Visa Inc. (NYSE:V) Shares Bought by Abacus Planning Group Inc.

Abacus Planning Group Inc. raised its holdings in Visa Inc. (NYSE:V) by 23.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,019 shares of the credit-card processor’s stock after purchasing an additional 389 shares during the quarter. Abacus Planning Group Inc.’s holdings in Visa were worth $707,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% in the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock worth $31,000 after acquiring an additional 32 shares during the period. Compass Planning Associates Inc purchased a new stake in shares of Visa during the 4th quarter worth about $32,000. FPC Investment Advisory Inc. boosted its stake in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock worth $36,000 after acquiring an additional 83 shares in the last quarter. Finally, NewSquare Capital LLC acquired a new stake in shares of Visa during the 4th quarter valued at about $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Visa in a research note on Thursday, February 13th. Truist Financial initiated coverage on Visa in a research report on Monday, June 2nd. They set a “buy” rating and a $400.00 target price on the stock. Susquehanna reissued a “positive” rating on shares of Visa in a report on Friday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $372.80.

Visa Price Performance

Shares of V stock opened at $370.44 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The firm’s 50-day moving average is $345.45 and its two-hundred day moving average is $335.88. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $371.83.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter last year, the firm earned $2.51 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.