Piedmont Capital Management LLC NC Buys New Stake in Visa Inc. $V

Piedmont Capital Management LLC NC bought a new stake in Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,740 shares of the credit-card processor’s stock, valued at approximately $610,000.

Several other institutional investors also recently bought and sold shares of V. Clayton Financial Group LLC raised its holdings in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp increased its holdings in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 38 shares during the last quarter. Cresta Advisors Ltd. acquired a new stake in shares of Visa during the 4th quarter worth $26,000. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Finally, Dorato Capital Management acquired a new stake in shares of Visa during the 4th quarter worth $30,000. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.6%

Shares of Visa stock opened at $324.25 on Tuesday. The company has a fifty day moving average price of $319.16 and a 200 day moving average price of $324.30. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $360.22. The stock has a market cap of $581.62 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 1.72 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results 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 firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.76 EPS. Equities research analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

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. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is presently 23.34%.

Visa declared that its board has authorized a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. BMO Capital Markets assumed coverage on Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective for the company. Truist Financial set a $371.00 price objective on Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $415.00 price objective on shares of Visa in a report on Wednesday, April 29th. Finally, Evercore set a $350.00 price target on shares of Visa in a research report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Buy” and an average price target of $387.78.

Read Our Latest Stock Report on Visa

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $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. Corporate insiders own 0.12% of the company’s stock.

Visa Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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