11,400 Shares in Visa Inc. $V Acquired by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management bought a new position in shares of Visa Inc. (NYSE:VFree Report) in the fourth quarter, Holdings Channel reports. The fund bought 11,400 shares of the credit-card processor’s stock, valued at approximately $3,998,000. Visa makes up approximately 0.8% of Keudell Morrison Wealth Management’s portfolio, making the stock its 24th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. Capital World Investors boosted its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after acquiring an additional 193,288 shares in the last quarter. Ameriprise Financial Inc. raised its position in Visa by 4.2% during the third quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock valued at $4,475,403,000 after purchasing an additional 530,995 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Visa by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock worth $4,253,224,000 after buying an additional 399,845 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Visa by 12.2% during the third quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor’s stock valued at $4,067,032,000 after acquiring an additional 1,298,435 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of NYSE:V opened at $331.28 on Friday. The company has a market capitalization of $594.23 billion, a P/E ratio of 28.86, a price-to-earnings-growth ratio of 1.77 and a beta of 0.78. The company’s 50-day moving average is $312.36 and its 200 day moving average is $325.40. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period in the previous year, the company earned $2.76 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

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

Visa announced that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on V shares. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings cut Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. BMO Capital Markets began coverage on Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target on the stock. Finally, Piper Sandler set a $160.00 price objective on shares of Visa in a research note on Wednesday, January 28th. Six analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $387.67.

Check Out Our Latest Research Report on V

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 2,679 shares in the company, valued at $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 42,744 shares of company stock worth $14,356,010 over the last ninety days. 0.12% of the stock is currently owned by company insiders.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Company Profile

(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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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