Resources Management Corp CT ADV Grows Position in Visa Inc. $V

Resources Management Corp CT ADV grew its stake in Visa Inc. (NYSE:VFree Report) by 12,598.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,238 shares of the credit-card processor’s stock after purchasing an additional 7,181 shares during the period. Resources Management Corp CT ADV’s holdings in Visa were worth $2,539,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Invariant Investment Management purchased a new stake in Visa in the 4th quarter worth approximately $969,000. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 1,054,343 shares during the period. Swiss Life Asset Management Ltd raised its stake in shares of Visa by 4.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock worth $180,088,000 after buying an additional 23,863 shares during the period. Savvy Advisors Inc. raised its stake in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after buying an additional 6,688 shares during the period. Finally, Ticino Wealth acquired a new position in shares of Visa during the 4th quarter worth approximately $1,837,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.6%

NYSE V opened at $324.25 on Tuesday. The business has a fifty day moving average price of $319.16 and a 200 day moving average price of $324.30. Visa Inc. has a one year low of $293.89 and a one year high of $360.22. 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 company has a market cap of $581.62 billion, a P/E ratio of 28.24, a P/E/G ratio of 1.72 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last posted 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. 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 the consensus estimate of $10.75 billion. During the same period in the prior year, the company earned $2.76 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

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

Visa News Summary

Here are the key news stories impacting Visa this week:

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price for the company. UBS Group upped their target price on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets began coverage on Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Finally, Freedom Capital raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa currently has an average rating of “Buy” and an average price target of $387.78.

Get Our Latest Stock Analysis on Visa

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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