2,730 Shares in Visa Inc. $V Acquired by Friedenthal Financial

Friedenthal Financial acquired a new position in Visa Inc. (NYSE:V) during the second quarter, Holdings Channel reports. The institutional investor acquired 2,730 shares of the credit-card processor’s stock, valued at approximately $969,000.

A number of other hedge funds have also recently added to or reduced their stakes in V. Nuveen LLC acquired a new position in Visa in the first quarter worth approximately $3,518,533,000. Vanguard Group Inc. lifted its stake in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after buying an additional 1,651,954 shares during the period. MUFG Securities EMEA plc acquired a new position in Visa in the 1st quarter valued at $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Down 1.0%

Shares of V opened at $343.63 on Friday. The company has a 50-day simple moving average of $343.77 and a 200-day simple moving average of $346.97. The firm has a market capitalization of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. 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 Inc. has a 52 week low of $275.37 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.42 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Wall Street Analyst Weigh In

V has been the subject of a number of recent analyst 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 report on Thursday, July 17th. Barclays restated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Weiss Ratings restated a “buy (b)” rating on shares of Visa in a report on Wednesday. Erste Group Bank cut shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Finally, Robert W. Baird set a $410.00 price target on shares of Visa and gave the company an “outperform” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $389.00.

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.