Visa Inc. $V Shares Acquired by Randolph Co Inc

Randolph Co Inc lifted its holdings in shares of Visa Inc. (NYSE:VFree Report) by 25.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,815 shares of the credit-card processor’s stock after buying an additional 16,880 shares during the period. Visa accounts for approximately 2.4% of Randolph Co Inc’s holdings, making the stock its 24th biggest position. Randolph Co Inc’s holdings in Visa were worth $25,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. State Street Corp raised its position in shares of Visa by 0.8% during 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 purchasing 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 purchasing an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Visa by 1.8% in 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 purchasing an additional 716,218 shares during the last quarter. Finally, Capital World Investors boosted its position in Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after purchasing an additional 193,288 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Down 0.2%

Shares of V stock opened at $361.31 on Friday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $362.13. The stock has a market cap of $648.10 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 1.93 and a beta of 0.75. The business’s fifty day moving average is $327.17 and its 200-day moving average is $324.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

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 the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during 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 company’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.76 earnings per share. Equities analysts expect that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s payout ratio is 23.34%.

Visa announced that its Board of Directors has authorized a share buyback program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley restated an “overweight” rating and set a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Citigroup cut their target price on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Piper Sandler began coverage on shares of Visa in a research report on Monday. They set an “overweight” rating and a $394.00 price target for the company. Finally, BMO Capital Markets started coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target for the company. Seven analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and a consensus price target of $397.96.

Check Out Our Latest Stock Analysis on V

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their position. The transaction was disclosed in a document filed 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 Visa stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 73,554 shares of company stock worth $24,898,255. 0.12% of the stock is owned by company insiders.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

About Visa

(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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