Visa Inc. $V Shares Sold by Provident Investment Management Inc.

Provident Investment Management Inc. reduced its position in Visa Inc. (NYSE:V) by 2.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 242,997 shares of the credit-card processor’s stock after selling 6,744 shares during the quarter. Visa makes up about 7.8% of Provident Investment Management Inc.’s holdings, making the stock its largest holding. Provident Investment Management Inc.’s holdings in Visa were worth $85,222,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its position in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after buying an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. lifted its holdings in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on V. Rothschild & Co Redburn set a $385.00 price target on Visa in a research note on Wednesday, January 28th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Truist Financial cut their price target on shares of Visa from $372.00 to $361.00 and set a “buy” rating for the company in a report on Friday, April 24th. Six research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $387.25.

Visa Stock Performance

V opened at $323.99 on Tuesday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $375.51. The stock has a market cap of $581.17 billion, a P/E ratio of 28.22, a P/E/G ratio of 1.70 and a beta of 0.78. The stock’s 50 day simple moving average is $310.93 and its 200 day simple moving average is $326.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09.

Visa (NYSE:V) last posted its earnings results 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%.Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.76 earnings per share. As a group, equities analysts anticipate that Visa Inc. will post 13.08 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a $0.67 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is currently 23.34%.

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

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the transaction, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% 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.

Visa Profile

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.