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Visa Inc. $V Shares Bought by Independent Advisor Alliance

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Key Points

  • Independent Advisor Alliance increased its Visa stake by 5.4% in the fourth quarter, buying 4,465 shares to bring its total to 87,536 shares worth about $30.7 million.
  • Visa posted strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both ahead of analyst expectations; revenue also rose 17.1% from a year earlier.
  • The company authorized a $20 billion share buyback and pays a quarterly dividend of $0.67 per share, while analysts remain broadly bullish with a consensus rating of “Buy” and an average price target of $387.67.
  • Five stocks we like better than Visa.

Independent Advisor Alliance raised its stake in Visa Inc. (NYSE:V - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,536 shares of the credit-card processor's stock after purchasing an additional 4,465 shares during the period. Visa comprises 0.7% of Independent Advisor Alliance's investment portfolio, making the stock its 19th biggest position. Independent Advisor Alliance's holdings in Visa were worth $30,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC increased its holdings in shares of Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp increased its holdings in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in shares of Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Visa in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Insider Buying and Selling

In related news, Director Lloyd Carney sold 650 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the transaction, the director owned 2,679 shares in the company, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. Rothschild & Co Redburn set a $385.00 price objective on Visa in a report on Wednesday, January 28th. Bank of America started coverage on Visa in a report on Thursday, March 5th. They issued a "buy" rating and a $410.00 price objective on the stock. UBS Group increased their price objective on Visa from $390.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Finally, Truist Financial set a $371.00 price objective on Visa and gave the company a "buy" rating in a report on Tuesday. Six analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $387.67.

Get Our Latest Stock Analysis on Visa

Visa Trading Up 0.8%

NYSE:V opened at $326.41 on Wednesday. The stock's 50 day moving average price is $311.08 and its 200 day moving average price is $326.25. The company has a market capitalization of $585.50 billion, a PE ratio of 28.43, a P/E/G ratio of 1.73 and a beta of 0.78. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.76 EPS. On average, research analysts anticipate that Visa Inc. will post 13.08 EPS for the current year.

Visa declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa's dividend payout ratio (DPR) is currently 23.34%.

About Visa

(Free Report)

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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