Employees Provident Fund Board Takes Position in Visa Inc. $V

Employees Provident Fund Board bought a new stake in shares of Visa Inc. (NYSE:VFree Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 33,500 shares of the credit-card processor’s stock, valued at approximately $11,749,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chapman Financial Group LLC grew its holdings in Visa by 0.9% in the third quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock worth $1,096,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd increased its holdings in shares of Visa by 0.3% in the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after purchasing an additional 30 shares during the period. TSA Wealth Managment LLC increased its holdings in Visa by 4.9% in the 3rd quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock worth $225,000 after buying an additional 31 shares during the period. Bank OZK increased its stake in shares of Visa by 3.7% in the third quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock worth $293,000 after acquiring an additional 31 shares during the period. Finally, FOCUS Wealth Advisors LLC grew its position in Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock worth $2,704,000 after purchasing an additional 31 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly 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 Securities & Exchange Commission, which can be accessed through this link. 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 sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup dropped their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued 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 price target of $387.78.

Read Our Latest Report on Visa

Visa Stock Up 0.1%

Shares of NYSE V opened at $327.67 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market cap of $587.76 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66. The business’s 50 day moving average is $321.23 and its two-hundred day moving average is $324.24.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 65.00% and a net margin of 51.68%.Visa’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 EPS. Research analysts predict that Visa Inc. will post 13.09 EPS for the current year.

Visa announced that its Board of Directors has approved a stock buyback 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 purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are 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 given 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 currently 23.34%.

Trending Headlines about Visa

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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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