Barbara Oil Co. Sells 3,600 Shares of Visa Inc. $V

Barbara Oil Co. lowered its holdings in shares of Visa Inc. (NYSE:V) by 51.8% during the first quarter, HoldingsChannel reports. The firm owned 3,350 shares of the credit-card processor’s stock after selling 3,600 shares during the quarter. Barbara Oil Co.’s holdings in Visa were worth $1,013,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of V. Vanguard Group Inc. lifted its stake in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after buying an additional 1,054,343 shares in the last quarter. State Street Corp boosted its holdings in shares of 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 buying an additional 626,821 shares during the period. Geode Capital Management LLC increased its position in shares of Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after acquiring an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after acquiring an additional 716,218 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock worth $8,359,291,000 after acquiring an additional 398,459 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on V shares. Evercore set a $350.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. Piper Sandler initiated coverage on Visa in a research note on Monday, June 29th. They issued an “overweight” rating and a $394.00 price target on the stock. Oppenheimer restated an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $387.00 price target (up from $375.00) on shares of Visa in a report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $398.36.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction dated 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 sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last three months. Insiders own 0.12% of the company’s stock.

Visa Price Performance

NYSE V opened at $353.10 on Thursday. The firm’s 50 day moving average is $336.39 and its 200-day moving average is $325.10. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $633.38 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14.

Visa (NYSE:V) last announced its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.76 earnings per share. Equities research analysts anticipate that Visa Inc. will post 13.13 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given 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 23.34%.

Visa declared that its board has authorized a stock buyback program 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 reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Visa Profile

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.