45,340 Shares in Visa Inc. $V Bought by Plato Investment Management Ltd

Plato Investment Management Ltd bought a new stake in Visa Inc. (NYSE:V) during the second quarter, according to its most recent filing with the SEC. The firm bought 45,340 shares of the credit-card processor’s stock, valued at approximately $15,465,000. Visa comprises 0.9% of Plato Investment Management Ltd’s holdings, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Nixon Peabody Trust Co. raised its stake in Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after purchasing an additional 1,543 shares during the last quarter. Vanguard Group Inc. grew its position in Visa by 0.7% in 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 last quarter. Wealth Enhancement Trust Services Inc. acquired a new stake in Visa in the 4th quarter worth $15,966,000. Ticino Wealth bought a new position in shares of Visa during the 4th quarter worth about $1,837,000. Finally, Beacon Financial Group increased its holdings in shares of Visa by 83.9% during the 1st quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor’s stock worth $6,801,000 after purchasing an additional 10,267 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. Barclays started coverage on shares of Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 target price for the company. Truist Financial set a $406.00 price objective on Visa and gave the stock a “buy” rating in a report on Wednesday, August 5th. Clear Str upgraded Visa to a “strong-buy” rating in a research report on Thursday, July 16th. Wolfe Research restated an “outperform” rating and issued a $435.00 target price (up from $430.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Weiss Ratings raised Visa from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, Visa has an average rating of “Buy” and a consensus price target of $413.58.

Visa Stock Performance

NYSE V opened at $363.91 on Monday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $373.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $649.37 billion, a P/E ratio of 30.94, a PEG ratio of 1.95 and a beta of 0.74. The company’s 50-day simple moving average is $349.37 and its 200 day simple moving average is $328.29.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. Visa had a return on equity of 67.68% and a net margin of 50.78%.The company had revenue of $11.63 billion for the quarter, compared to the consensus estimate of $11.40 billion. During the same period in the previous year, the business earned $2.98 earnings per share. The company’s quarterly revenue was up 14.4% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 13.15 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s payout ratio is currently 22.79%.

Visa declared that its board has initiated a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the business’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,759 shares of company stock valued at $32,375,779 in the last 90 days. 0.12% of the stock is owned by corporate insiders.

Visa Company Profile

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.