Ketron Financial Buys Shares of 6,256 Visa Inc. $V

Ketron Financial purchased a new position in Visa Inc. (NYSE:VFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,256 shares of the credit-card processor’s stock, valued at approximately $2,194,000. Visa comprises approximately 0.7% of Ketron Financial’s investment portfolio, making the stock its 16th biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in V. SG Trading Solutions LLC purchased a new position in Visa during the 4th quarter worth $3,141,000. Pacer Advisors Inc. increased its position in Visa by 11.6% during the 4th quarter. Pacer Advisors Inc. now owns 155,789 shares of the credit-card processor’s stock valued at $54,637,000 after buying an additional 16,169 shares in the last quarter. Titan Investment Management LLC purchased a new stake in Visa in the fourth quarter valued at about $2,669,000. Nolet Wealth Management LLC acquired a new stake in Visa in the fourth quarter worth about $328,000. Finally, Investment Insight Wealth Management LLC acquired a new stake in Visa in the fourth quarter worth about $2,490,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

Analyst Ratings Changes

Several research firms have recently issued reports on V. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. UBS Group lifted their target price on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Truist Financial set a $371.00 target price on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Finally, Evercore set a $350.00 price target on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $387.78.

Get Our Latest Stock Analysis on V

Insider Buying and Selling

In other news, CFO Chris Suh sold 10,639 shares of the stock in a transaction 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 sale, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Stock Up 0.1%

Shares of V stock opened at $327.67 on Friday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66. The firm has a market capitalization of $587.76 billion, a PE ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.77. 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’s 50-day simple moving average is $321.23 and its 200-day simple moving average is $324.24.

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

Visa Announces Dividend

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

Visa announced that its Board of Directors has authorized a stock 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 repurchase 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 shares are undervalued.

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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