X Square Capital LLC Acquires New Holdings in Visa Inc. $V

X Square Capital LLC acquired a new stake in shares of Visa Inc. (NYSE:V) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,548 shares of the credit-card processor’s stock, valued at approximately $1,595,000.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in Visa in the fourth quarter worth $5,877,738,000. Corient Private Wealth LLC grew its holdings in Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after purchasing an additional 2,075,289 shares during the last quarter. Holocene Advisors LP grew its holdings in Visa by 286.4% in the third quarter. Holocene Advisors LP now owns 2,526,026 shares of the credit-card processor’s stock worth $862,335,000 after purchasing an additional 1,872,362 shares during the last quarter. SG Americas Securities LLC grew its holdings in Visa by 121.7% in the fourth quarter. SG Americas Securities LLC now owns 3,022,411 shares of the credit-card processor’s stock worth $1,059,990,000 after purchasing an additional 1,658,954 shares during the last quarter. Finally, Danske Bank A S purchased a new position in Visa in the third quarter worth $565,684,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on V shares. UBS Group boosted their price objective on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets started coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Finally, Citigroup dropped 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. Six analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus target price of $387.78.

Visa Trading Down 1.3%

Shares of Visa stock opened at $319.51 on Tuesday. The firm has a 50-day simple moving average of $316.81 and a two-hundred day simple moving average of $324.48. The company has a market cap of $573.12 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 earnings per share. As a group, equities analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders 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 is 23.34%.

Visa announced that its board has approved a share 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 leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 42,744 shares of company stock worth $14,356,010. Company insiders own 0.12% of the company’s stock.

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.