Visa Inc. $V Shares Bought by Jericho Financial LLP

Jericho Financial LLP grew its holdings in shares of Visa Inc. (NYSE:V) by 11.9% in the second quarter, HoldingsChannel reports. The fund owned 21,412 shares of the credit-card processor’s stock after buying an additional 2,279 shares during the period. Visa makes up about 3.8% of Jericho Financial LLP’s portfolio, making the stock its 12th largest holding. Jericho Financial LLP’s holdings in Visa were worth $7,346,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Cresta Advisors Ltd. acquired a new stake in Visa in the fourth quarter worth about $26,000. Parvin Asset Management LLC increased its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after buying an additional 50 shares during the period. Virtus Advisers LLC bought a new stake in shares of Visa during the 2nd quarter worth about $33,000. RHL Group LLC bought a new stake in shares of Visa during the 4th quarter worth about $34,000. Finally, Timmons Wealth Management LLC acquired a new stake in shares of Visa in the 4th quarter worth approximately $34,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction 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 sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at $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 available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total value of $7,135,042.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This trade represents a 58.02% decrease in their position. 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 90,759 shares of company stock worth $32,375,779 in the last three months. 0.12% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Susquehanna reiterated a “positive” rating and set a $427.00 price objective (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Evercore set a $350.00 target price on Visa in a research report on Wednesday, April 29th. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Piper Sandler reiterated an “overweight” rating and set a $430.00 price target (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. Finally, 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. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $413.58.

Visa Stock Up 0.0%

V stock opened at $371.09 on Monday. The firm has a market cap of $662.18 billion, a PE ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $353.73 and a 200 day simple moving average of $329.61.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion for 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 firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.98 earnings per share. Equities research analysts forecast that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Visa Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) 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.