Gateway Wealth Partners LLC Has $2.56 Million Holdings in Visa Inc. $V

Gateway Wealth Partners LLC lifted its position in Visa Inc. (NYSE:V) by 168.1% in the 1st quarter, Holdings Channel reports. The fund owned 8,470 shares of the credit-card processor’s stock after buying an additional 5,311 shares during the period. Gateway Wealth Partners LLC’s holdings in Visa were worth $2,560,000 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 V. Norges Bank acquired a new stake in Visa during the 4th quarter valued at $5,877,738,000. Cardano Risk Management B.V. boosted its position in shares of Visa by 867.6% in the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after buying an additional 7,364,762 shares during the period. Diamant Asset Management Inc. grew its holdings in shares of Visa by 29,706.3% during the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after buying an additional 7,308,345 shares in the last quarter. J. Stern & Co. LLP grew its holdings in shares of Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after buying an additional 3,351,223 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Visa by 48.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after buying an additional 2,116,463 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 1.9%

NYSE V opened at $362.37 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14. The firm’s fifty day simple moving average is $338.16 and its 200-day simple moving average is $325.18. The company has a market capitalization of $650.01 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter last year, the firm earned $2.76 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Visa Inc. will post 13.12 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $387.00 price target (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Finally, BNP Paribas Exane upgraded shares of Visa to a “strong-buy” rating in a report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $399.41.

Insiders Place Their Bets

In other news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’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 of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 in the last three months. Insiders own 0.12% of the company’s stock.

Visa 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.