Seven Mile Advisory Lowers Position in Visa Inc. $V

Seven Mile Advisory decreased its holdings in shares of Visa Inc. (NYSE:VFree Report) by 27.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,886 shares of the credit-card processor’s stock after selling 1,827 shares during the period. Seven Mile Advisory’s holdings in Visa were worth $1,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at approximately $5,877,738,000. Cardano Risk Management B.V. lifted its position in shares of Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after buying an additional 7,364,762 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Visa by 48.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after buying an additional 2,116,463 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Visa by 286.4% during the 3rd quarter. Holocene Advisors LP now owns 2,526,026 shares of the credit-card processor’s stock valued at $862,335,000 after buying an additional 1,872,362 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CFO Chris Suh sold 10,639 shares of the firm’s 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 transaction, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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.

Visa Trading Up 0.6%

Shares of V stock opened at $324.25 on Tuesday. The stock’s fifty day moving average is $319.16 and its two-hundred day moving average is $324.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $581.62 billion, a P/E ratio of 28.24, a PEG ratio of 1.72 and a beta of 0.77. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $360.22.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data 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 company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.76 EPS. Research analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa declared that its board has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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 issued a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 23.34%.

More Visa News

Here are the key news stories impacting Visa this week:

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on V shares. Citigroup decreased their target price on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Loop Capital started coverage on Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price on the stock. BMO Capital Markets assumed coverage on Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price on the stock. Finally, Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $387.78.

Get Our Latest Research Report on Visa

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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