Visa Inc. $V Shares Bought by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:VFree Report) by 18.1% during the 1st quarter, HoldingsChannel reports. The firm owned 23,956 shares of the credit-card processor’s stock after purchasing an additional 3,679 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Visa were worth $7,240,000 at the end of the most recent reporting period.

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

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Insider Activity

In related news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. 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. Insiders have sold a total of 75,581 shares of company stock valued at $25,627,975 over the last quarter. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. Citigroup reduced their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Piper Sandler began coverage on shares of Visa in a research note on Monday, June 29th. They set an “overweight” rating and a $394.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Sanford C. Bernstein restated an “outperform” rating and issued a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Visa has a consensus rating of “Buy” and a consensus price target of $397.39.

View Our Latest Analysis on V

Visa Trading Down 1.4%

Shares of NYSE:V opened at $352.21 on Wednesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.02. The company’s 50 day moving average is $328.99 and its two-hundred day moving average is $324.88. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $631.79 billion, a PE ratio of 30.68, a P/E/G ratio of 1.91 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate 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 net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.76 earnings per share. Equities analysts predict that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

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

Visa Announces Dividend

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

Visa 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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