Visa Inc. $V Shares Purchased by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in Visa Inc. by 20.1% during the first quarter, owning 9,857 shares valued at approximately $3.45 million.
• Visa's recent quarterly earnings report surpassed expectations, with an EPS of $2.98 compared to a consensus estimate of $2.85, and revenues of $10.17 billion.
• Insider trading activity includes the General Counsel selling 2,027 shares valued at $697,328.54, representing a 14.53% decrease in their position.

Algert Global LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 20.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,857 shares of the credit-card processor's stock after purchasing an additional 1,647 shares during the period. Algert Global LLC's holdings in Visa were worth $3,454,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in V. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new position in Visa during the fourth quarter valued at approximately $306,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares during the period. Aptus Capital Advisors LLC increased its position in shares of Visa by 19.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares in the last quarter. Finally, Eagle Strategies LLC raised its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after acquiring an additional 63 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

V has been the subject of a number of research reports. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group started coverage on Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock valued at $28,340,553 over the last three months. Insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of NYSE V opened at $342.51 on Wednesday. Visa Inc. has a 1 year low of $265.31 and a 1 year high of $375.51. The firm has a market cap of $627.75 billion, a P/E ratio of 33.45, a PEG ratio of 2.28 and a beta of 0.94. The stock has a fifty day moving average price of $349.13 and a two-hundred day moving average price of $347.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the business earned $2.42 EPS. The company's quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

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