DUTCH ASSET Corp Purchases 2,217 Shares of Visa Inc. $V

DUTCH ASSET Corp lifted its position in Visa Inc. (NYSE:V) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,095 shares of the credit-card processor’s stock after purchasing an additional 2,217 shares during the period. Visa comprises 2.0% of DUTCH ASSET Corp’s portfolio, making the stock its 15th largest holding. DUTCH ASSET Corp’s holdings in Visa were worth $3,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Clayton Financial Group LLC boosted its holdings in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after buying an additional 58 shares during the period. PayPay Securities Corp raised its holdings in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the period. Cresta Advisors Ltd. bought a new stake in Visa during the fourth quarter valued at about $26,000. Parvin Asset Management LLC lifted its position in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Visa in the fourth quarter valued at about $30,000. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 0.7%

Shares of V stock opened at $361.25 on Tuesday. The stock has a market cap of $648.00 billion, a P/E ratio of 31.47, a PEG ratio of 1.91 and a beta of 0.75. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.14. 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 company’s fifty day simple moving average is $335.15 and its two-hundred day simple moving average is $325.05.

Visa (NYSE:V) last issued 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. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter last year, the business posted $2.76 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. Analysts predict that Visa Inc. will post 13.11 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared 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. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on V. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. BMO Capital Markets reissued an “outperform” rating and issued a $387.00 price target (up from $375.00) on shares of Visa in a report on Wednesday, July 15th. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Clear Str upgraded Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Piper Sandler assumed coverage on shares of Visa in a report on Monday, June 29th. They set an “overweight” rating and a $394.00 price objective for the company. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $398.36.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 75,581 shares of company stock worth $25,627,975 in the last quarter. 0.12% of the stock is owned by corporate insiders.

About Visa

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.