Gibbs Wealth Management Buys 10,131 Shares of Visa Inc. $V

Gibbs Wealth Management increased its stake in shares of Visa Inc. (NYSE:V) by 75.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,609 shares of the credit-card processor’s stock after acquiring an additional 10,131 shares during the period. Visa comprises about 0.9% of Gibbs Wealth Management’s portfolio, making the stock its 22nd largest position. Gibbs Wealth Management’s holdings in Visa were worth $7,136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Invariant Investment Management purchased a new position in Visa during the 4th quarter valued at approximately $969,000. Nixon Peabody Trust Co. raised its holdings in shares of Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after acquiring an additional 1,543 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares in the last quarter. Savvy Advisors Inc. boosted its position in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after acquiring an additional 6,688 shares during the last quarter. Finally, Wealth Enhancement Trust Services Inc. bought a new position in shares of Visa during the 4th quarter valued at approximately $15,966,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The shares were 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 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 transaction was disclosed in a legal filing 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 shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Insiders have sold 75,581 shares of company stock worth $25,627,975 in the last three months. Corporate insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Loop Capital began coverage on shares of Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective for the company. Weiss Ratings upgraded shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. Evercore set a $350.00 target price on shares of Visa in a research report on Wednesday, April 29th. Clear Str raised shares of Visa to a “strong-buy” rating in a report on Thursday, July 16th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $389.00 price target on shares of Visa in a research report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $398.36.

Visa News Roundup

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa announced a partnership with Airwallex to build embedded-finance tools for freight and shipping platforms, a move that could expand Visa’s footprint in cross-border B2B payments and working-capital solutions. Visa and Airwallex Team on Embedded Finance for Freight Companies
• Positive Sentiment: DoorDash’s new instant-deposit features for drivers use Visa Direct, highlighting continued adoption of Visa’s real-time money-movement infrastructure in consumer and gig-economy payments. DoorDash Launches Instant Deposits for DoorDash Crimson with Astra
• Positive Sentiment: BNP Paribas Exane upgraded Visa to “strong-buy,” adding to the bullish case that the company’s earnings momentum and premium network position can support further upside. Visa upgraded by BNP Paribas Exane
• Neutral Sentiment: Several preview articles ahead of Visa’s fiscal Q3 results point to continued revenue and earnings growth, with consensus estimates around $3.23 EPS on $11.35 billion in revenue; investors are waiting to see whether the company can justify its valuation when it reports next week. Visa’s Q3 Earnings Could be a Catalyst: Should You Buy Now?
• Neutral Sentiment: Jim Cramer also highlighted Visa as a beneficiary of resilient consumer credit demand, which reinforces a positive spending backdrop but does not change the near-term fundamentals on its own. Jim Cramer Highlights Visa (V) as Consumer Credit Demand Soars
• Negative Sentiment: A Reuters report on new U.S. visa restrictions targeting people tied to cybercrime is not directly related to Visa Inc.’s payments business, but the headline may have created some noise for the stock due to the shared name. US announces visa restriction policy for people complicit in cybercrime

Visa Stock Down 0.5%

Shares of V opened at $351.68 on Friday. The firm has a market capitalization of $630.84 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.88 and a beta of 0.75. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $336.98 and a 200-day moving average price of $325.13.

Visa (NYSE:V) last posted its quarterly 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 firm had revenue of $11.23 billion for 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 business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.76 earnings per share. Equities research analysts expect that Visa Inc. will post 13.13 earnings per share for the current year.

Visa announced that its Board of Directors has authorized a stock buyback 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 generally a sign that the company’s management believes its shares are undervalued.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

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.