Ketron Financial Purchases New Position in Visa Inc. $V

Ketron Financial purchased a new stake in Visa Inc. (NYSE:VFree Report) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,256 shares of the credit-card processor’s stock, valued at approximately $2,194,000. Visa comprises 0.7% of Ketron Financial’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also bought and sold shares of the stock. Clayton Financial Group LLC increased its holdings in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp lifted its stake in shares of Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in Visa during the fourth quarter worth $26,000. Parvin Asset Management LLC boosted its holdings in Visa by 200.0% during the third 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 in the last quarter. Finally, Dorato Capital Management acquired a new stake in Visa during the fourth quarter valued at $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.1%

Shares of NYSE V opened at $327.67 on Friday. The firm has a market cap of $587.76 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. The company’s 50-day simple moving average is $321.23 and its 200-day simple moving average is $324.24. 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 Inc. has a 52-week low of $293.89 and a 52-week high of $359.66.

Visa (NYSE:VGet Free Report) last issued 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. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $2.76 EPS. Equities analysts predict that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

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

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

Wall Street Analyst Weigh In

V has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of Visa in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Truist Financial set a $371.00 target price on Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer restated an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Finally, Bank of America started coverage on Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price target for the company. Six analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus target price of $387.78.

Read Our Latest Stock Report on V

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the 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 approximately $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on 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 owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% 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. Company insiders own 0.12% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

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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