Tulsa Wealth Advisors INC Invests $5.58 Million in Visa Inc. $V

Tulsa Wealth Advisors INC bought a new position in shares of Visa Inc. (NYSE:VFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,903 shares of the credit-card processor’s stock, valued at approximately $5,577,000. Visa accounts for approximately 1.9% of Tulsa Wealth Advisors INC’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in 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 purchasing an additional 1,054,343 shares during the period. State Street Corp lifted its holdings in shares of Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after buying an additional 626,821 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Visa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 1.8% during the 4th 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 buying an additional 716,218 shares in the last quarter. Finally, Capital World Investors grew its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $327.67 on Friday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66. 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 $587.76 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. The stock’s 50-day simple moving average is $321.23 and its 200-day simple moving average is $324.24.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during 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 revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted $2.76 EPS. As a group, equities analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders 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 payout ratio is 23.34%.

Insiders Place Their Bets

In related 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 completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

V has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, UBS Group upped their price target on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $387.78.

View Our Latest Analysis on V

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.

Recommended Stories

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VFree Report).

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.