Greenwood Gearhart LLC Buys 2,922 Shares of Visa Inc. $V

Greenwood Gearhart LLC raised its stake in Visa Inc. (NYSE:VFree Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,245 shares of the credit-card processor’s stock after purchasing an additional 2,922 shares during the period. Greenwood Gearhart LLC’s holdings in Visa were worth $9,443,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. State Street Corp raised its holdings in Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock valued at $29,038,140,000 after acquiring an additional 626,821 shares during the period. Geode Capital Management LLC lifted its position in Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after acquiring an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after acquiring an additional 716,218 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock worth $8,359,291,000 after acquiring an additional 398,459 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value 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 $3,206,524.32. The trade was a 51.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 75,581 shares of company stock valued at $25,627,975 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Stock Performance

Shares of NYSE:V opened at $358.51 on Monday. The company’s 50 day moving average price is $334.41 and its two-hundred day moving average price is $324.99. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14. The firm has a market cap of $643.08 billion, a PE ratio of 31.23, a PEG ratio of 1.91 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the business earned $2.76 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post 13.11 earnings per share for the current year.

Visa announced that its board has authorized a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to buy 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 stock is undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Analysts Set New Price Targets

Several equities analysts have recently commented on V shares. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 target price on shares of Visa in a research report on Wednesday, April 29th. Robert W. Baird set a $412.00 price target on Visa and gave the stock an “outperform” rating in a report on Monday, July 6th. Barclays assumed coverage on Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. Finally, UBS Group increased their price objective on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $398.36.

Get Our Latest Report on V

Visa Company 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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