Visa Inc. $V Shares Sold by SmartHarvest Portfolios LLC

SmartHarvest Portfolios LLC cut its position in Visa Inc. (NYSE:V) by 21.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,463 shares of the credit-card processor’s stock after selling 1,518 shares during the quarter. Visa comprises 0.7% of SmartHarvest Portfolios LLC’s holdings, making the stock its 21st biggest position. SmartHarvest Portfolios LLC’s holdings in Visa were worth $1,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Visa during the fourth quarter valued at approximately $5,877,738,000. Cardano Risk Management B.V. grew its holdings in Visa by 867.6% in the 4th 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 in the last quarter. J. Stern & Co. LLP increased its position in Visa by 12,497.1% in the 4th 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 acquiring an additional 3,351,223 shares during the period. Victory Capital Management Inc. raised its stake in Visa by 48.2% during the 4th 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 acquiring an additional 2,116,463 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after acquiring an additional 2,075,289 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

Shares of NYSE V opened at $336.96 on Friday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66. The firm has a market cap of $604.43 billion, a P/E ratio of 29.35, a PEG ratio of 1.80 and a beta of 0.77. The stock has a fifty day moving average price of $323.36 and a two-hundred day moving average price of $324.30. 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 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 company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 EPS. Research analysts forecast that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 23.34%.

Visa announced that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on V shares. Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. BMO Capital Markets started coverage on shares of Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Raymond James Financial reiterated an “outperform” rating and issued a $389.00 target price on shares of Visa in a research report on Wednesday, April 29th. Finally, Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $387.78.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on 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 owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

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.