Visa Inc. $V Shares Sold by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management cut its Visa stake by 7.5% in the first quarter, selling 10,258 shares and leaving it with 126,421 shares valued at about $38.2 million.
• Visa reported strong quarterly results, with EPS of $3.31 and revenue of $11.23 billion, both ahead of analyst expectations and up 17.1% year over year.
• The company also announced a $20 billion share buyback and continues to receive mostly bullish analyst coverage, with a consensus rating of Buy and an average price target of $387.78.

Cidel Asset Management Inc. decreased its stake in Visa Inc. (NYSE:V - Free Report) by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 126,421 shares of the credit-card processor's stock after selling 10,258 shares during the period. Visa makes up 2.1% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 13th largest holding. Cidel Asset Management Inc.'s holdings in Visa were worth $38,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock valued at $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. State Street Corp raised its position in Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor's stock worth $29,038,140,000 after acquiring an additional 626,821 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor's stock valued at $15,411,395,000 after purchasing an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor's stock valued at $14,411,480,000 after purchasing an additional 716,218 shares during the last quarter. Finally, Capital World Investors grew its position in shares of Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor's stock valued at $8,463,484,000 after purchasing an additional 193,288 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a travel-planning platform now live in major global cities, which could open a new consumer-facing growth channel and strengthen Visa’s brand in the travel economy. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Thredd in Asia-Pacific, supporting faster card issuing for fintechs and digital banks and underscoring growing demand for Visa’s network infrastructure. Thredd Brings Visa Cloud Connect Live in Asia Pacific to Support Faster, More Reliable Issuing Across the Region
• Positive Sentiment: Visa announced a multi-year partnership with Evo to power a global gaming community through early 2028, adding another high-visibility use case for cross-border commerce and fan engagement. Evo and Visa Announce Multi-Year Partnership to Power a Global Game Community
• Neutral Sentiment: Analyst commentary continued to highlight Visa as a long-term favorite, but this is more supportive of the valuation backdrop than a direct near-term catalyst. Why Visa (V) is a Top Stock for the Long-Term

Insider Transactions at Visa

In related news, CFO Chris Suh sold 10,639 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.12% of the company's stock.

Visa Stock Down 0.5%

V stock opened at $330.42 on Friday. The company has a 50 day moving average price of $322.94 and a two-hundred day moving average price of $324.21. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $592.70 billion, a P/E ratio of 28.78, a PEG ratio of 1.77 and a beta of 0.77. Visa Inc. has a one year low of $293.89 and a one year high of $359.66.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.76 EPS. As a group, sell-side analysts expect that Visa Inc. will post 13.09 EPS for the current year.

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

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa's payout ratio is 23.34%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on V. Oppenheimer reissued an "outperform" rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 target price on Visa and gave the company a "buy" rating in a research note on Tuesday, May 12th. Citigroup lowered their target price on Visa from $450.00 to $400.00 and set a "buy" rating on the stock in a report on Tuesday, April 14th. Bank of America initiated coverage on Visa in a report on Thursday, March 5th. They issued a "buy" rating and a $410.00 price target for the company. Finally, BMO Capital Markets began coverage on Visa in a research report on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price objective on the stock. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $387.78.

Visa Profile

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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