Greenspring Advisors LLC Buys 1,464 Shares of Visa Inc. $V

Greenspring Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 38.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,265 shares of the credit-card processor’s stock after buying an additional 1,464 shares during the quarter. Greenspring Advisors LLC’s holdings in Visa were worth $1,806,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of V. Nixon Peabody Trust Co. boosted its stake in Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after acquiring an additional 1,543 shares during the last quarter. Vanguard Group Inc. increased its stake in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares in the last quarter. Ticino Wealth acquired a new stake in Visa in the fourth quarter worth $1,837,000. Beacon Financial Group raised its holdings in Visa by 83.9% in the first quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock worth $6,801,000 after purchasing an additional 10,267 shares during the period. Finally, Sterling Investment Management LLC boosted its position in shares of Visa by 43.7% during the fourth quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor’s stock worth $6,254,000 after purchasing an additional 5,421 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider directly owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 90,759 shares of company stock worth $32,375,779 in the last three months. Insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Cantor Fitzgerald set a $445.00 price target on shares of Visa and gave the company an “overweight” rating in a report on Monday, August 3rd. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. TD Cowen reissued a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Barclays assumed coverage on Visa in a report on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $406.00 price target on shares of Visa in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. According to MarketBeat.com, Visa has an average rating of “Buy” and an average target price of $413.58.

Visa Trading Up 0.2%

Shares of NYSE:V opened at $366.31 on Friday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $352.75 and its 200 day simple moving average is $329.35. The firm has a market cap of $653.65 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 1.96 and a beta of 0.74.

Visa (NYSE:V) last announced its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.98 EPS. As a group, research analysts forecast that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa announced that its board has initiated a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio is currently 22.79%.

About Visa

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.