Wealth Advisors of Tampa Bay LLC Purchases 3,460 Shares of Visa Inc. $V

Key Points

• Wealth Advisors of Tampa Bay LLC increased its Visa stake by 201.4% in the fourth quarter, buying 3,460 additional shares and bringing its total to 5,178 shares valued at about $1.82 million.
• Visa reported better-than-expected quarterly results, with earnings per share of $3.31 and revenue of $11.23 billion, both topping analyst estimates. Revenue rose 17.1% year over year.
• The company announced a quarterly dividend of $0.67 per share and a new $20 billion share repurchase program, while analysts continue to be broadly bullish with a consensus rating of Buy and a target price of $386.70.

Wealth Advisors of Tampa Bay LLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 201.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,178 shares of the credit-card processor's stock after acquiring an additional 3,460 shares during the period. Wealth Advisors of Tampa Bay LLC's holdings in Visa were worth $1,816,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in V. Brighton Jones LLC grew its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. grew its holdings in Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after buying an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after buying an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock valued at $6,521,000 after buying an additional 2,230 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Trading Down 0.5%

V stock opened at $327.17 on Wednesday. The firm has a fifty day moving average price of $313.63 and a 200 day moving average price of $325.17. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. 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 firm has a market cap of $586.87 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

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

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa's payout ratio is presently 23.34%.

Visa declared that its board has approved a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on V shares. Loop Capital started coverage on shares of Visa in a report on Tuesday, March 31st. They set a "buy" rating and a $387.00 price objective for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Raymond James Financial reaffirmed an "outperform" rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a report on Wednesday, January 28th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Visa in a report on Friday, January 30th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Visa has an average rating of "Buy" and a consensus target price of $386.70.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of Visa stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares of the company's stock, valued at $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 42,744 shares of company stock valued at $14,356,010 over the last three months. 0.12% of the stock is owned by company insiders.

Visa Company 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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