5,649 Shares in Visa Inc. $V Purchased by Hamel Associates Inc.

Hamel Associates Inc. bought a new position in Visa Inc. (NYSE:VFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,649 shares of the credit-card processor’s stock, valued at approximately $1,707,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Visa by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock worth $2,672,655,000 after purchasing an additional 316,559 shares during the period. Resolute Wealth Strategies LLC boosted its position in Visa by 13.8% during the 1st quarter. Resolute Wealth Strategies LLC now owns 3,568 shares of the credit-card processor’s stock valued at $1,078,000 after purchasing an additional 432 shares during the period. Pacific Wealth Strategies Group Inc. boosted its position in Visa by 3.3% during the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 5,224 shares of the credit-card processor’s stock valued at $1,579,000 after purchasing an additional 168 shares during the period. Decker Wealth Management LLC bought a new position in Visa during the 1st quarter worth $5,982,000. Finally, Greenwood Gearhart LLC grew its stake in Visa by 10.3% during the 1st quarter. Greenwood Gearhart LLC now owns 31,245 shares of the credit-card processor’s stock worth $9,443,000 after buying an additional 2,922 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other Visa news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s 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 completion of the sale, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% 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 sold 75,581 shares of company stock worth $25,627,975 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on V. Robert W. Baird set a $412.00 target price on Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Truist Financial set a $371.00 price target on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $387.00 price objective (up from $375.00) on shares of Visa in a research report on Wednesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $398.36.

Read Our Latest Stock Analysis on Visa

Key Visa News

Here are the key news stories impacting Visa this week:

Visa Stock Down 0.0%

Shares of Visa stock opened at $358.51 on Monday. The business’s fifty day moving average price is $334.41 and its two-hundred day moving average price is $324.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $643.08 billion, a P/E ratio of 31.23, a PEG ratio of 1.91 and a beta of 0.75. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the previous year, the firm posted $2.76 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 13.11 EPS for the current year.

Visa declared that its board has approved a share 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 buy up to 3.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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