Seneca House Advisors Has $3.84 Million Position in Visa Inc. $V

Seneca House Advisors boosted its holdings in Visa Inc. (NYSE:V) by 108.1% during the first quarter, Holdings Channel reports. The fund owned 12,717 shares of the credit-card processor’s stock after purchasing an additional 6,607 shares during the period. Visa makes up 1.5% of Seneca House Advisors’ holdings, making the stock its 23rd largest holding. Seneca House Advisors’ holdings in Visa were worth $3,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Clayton Financial Group LLC lifted its stake in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after buying an additional 58 shares during the last quarter. PayPay Securities Corp grew its stake in Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new position in Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC raised its holdings in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in Visa in the 4th quarter valued at about $30,000. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V stock traded up $0.85 during trading on Friday, hitting $349.05. The company had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. The firm has a market capitalization of $626.12 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. Visa Inc. has a one year low of $293.89 and a one year high of $365.02. 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 moving average price is $330.81 and its 200 day moving average price is $325.05.

Visa (NYSE:V) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $2.76 EPS. Equities analysts expect that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa declared that its Board of Directors has approved a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

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

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated 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 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 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 sold a total of 75,581 shares of company stock valued at $25,627,975 over the last quarter. 0.12% of the stock is owned by corporate insiders.

Analyst Ratings Changes

V has been the subject of a number of research analyst reports. Barclays assumed coverage on Visa in a report on Tuesday. They set an “overweight” rating and a $420.00 price objective for the company. Piper Sandler began coverage on Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 price target for the company. UBS Group boosted their price target on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $412.00 price objective on Visa and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Truist Financial set a $371.00 price objective on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $397.91.

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.