Visa Inc. $V Shares Acquired by Greenup Street Wealth Management LLC

Greenup Street Wealth Management LLC increased its position in Visa Inc. (NYSE:V) by 15.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 11,718 shares of the credit-card processor’s stock after purchasing an additional 1,562 shares during the period. Greenup Street Wealth Management LLC’s holdings in Visa were worth $3,542,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in V. Vanguard Group Inc. raised 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 valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. State Street Corp increased its stake in Visa by 0.8% in the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock valued at $29,038,140,000 after purchasing an additional 626,821 shares during the period. Geode Capital Management LLC raised its holdings in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock valued at $15,411,395,000 after buying an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after buying an additional 716,218 shares during the last quarter. Finally, Capital World Investors boosted its stake in shares of Visa by 0.8% during the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa News Summary

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Wall Street Analyst Weigh In

A number of research firms recently issued reports on V. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of Visa in a research note on Wednesday, April 29th. BMO Capital Markets began coverage on Visa in a report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 target price on the stock. Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Six equities research 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, the stock has an average rating of “Buy” and a consensus price target of $387.78.

Insider Activity

In related news, 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. The trade was a 51.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s 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 trade represents a 67.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Trading Up 1.9%

Shares of V opened at $336.96 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm’s 50-day moving average is $323.36 and its two-hundred day moving average is $324.30. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $359.66. The firm has a market capitalization of $604.43 billion, a P/E ratio of 29.35, a PEG ratio of 1.77 and a beta of 0.77.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 EPS. On average, research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently announced 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 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

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

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.