Visa Inc. $V Shares Purchased by Saxon Interests Inc.

Saxon Interests Inc. boosted its position in Visa Inc. (NYSE:VFree Report) by 82.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,994 shares of the credit-card processor’s stock after purchasing an additional 2,262 shares during the period. Saxon Interests Inc.’s holdings in Visa were worth $1,509,000 as of its most recent filing with the Securities & Exchange Commission.

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

Visa News Roundup

Here are the key news stories impacting Visa this week:

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 10,490 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,219,704.26. This trade represents a 40.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock valued at $25,627,975. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on V. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price target on shares of Visa in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 target price on the stock. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. UBS Group lifted their price target on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Six research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $397.91.

Get Our Latest Analysis on V

Visa Trading Down 1.3%

Shares of Visa stock opened at $347.66 on Thursday. The firm has a 50-day simple moving average of $329.75 and a two-hundred day simple moving average of $324.89. The company has a market cap of $623.62 billion, a P/E 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. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS 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 for the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the firm earned $2.76 EPS. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities analysts predict that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued 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 (DPR) is presently 23.34%.

Visa Company Profile

(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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