Sageworth Trust Co Buys 1,698 Shares of Visa Inc. $V

Sageworth Trust Co increased its stake in shares of Visa Inc. (NYSE:VFree Report) by 175.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,668 shares of the credit-card processor’s stock after purchasing an additional 1,698 shares during the period. Sageworth Trust Co’s holdings in Visa were worth $806,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Brighton Jones LLC lifted its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in shares of Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY increased its position in Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after acquiring an additional 2,230 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

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Insider Buying and Selling at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction of $10,699,103.70. Following the completion of the sale, 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. 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. Insiders have sold 75,581 shares of company stock valued at $25,627,975 over the last 90 days. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Truist Financial set a $371.00 target price on Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Oppenheimer restated an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. BMO Capital Markets assumed coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price target for the company. Citigroup lowered 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. Finally, Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $397.91.

Check Out Our Latest Report on Visa

Visa Price Performance

NYSE V opened at $347.66 on Thursday. 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 business’s fifty day moving average is $329.75 and its 200 day moving average is $324.89. The company has a market capitalization of $623.62 billion, a PE ratio of 30.28, a price-to-earnings-growth ratio of 1.88 and a beta of 0.75. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $365.02.

Visa (NYSE:VGet Free Report) last posted 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. The firm 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 business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.76 EPS. Sell-side analysts predict that Visa Inc. will post 13.1 earnings per share for the current year.

Visa announced that its board has approved a share buyback 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 purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

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. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is currently 23.34%.

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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