3,224 Shares in Visa Inc. $V Purchased by McLaughlin Asset Management Inc.

McLaughlin Asset Management Inc. purchased a new stake in shares of Visa Inc. (NYSE:VFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,224 shares of the credit-card processor’s stock, valued at approximately $1,131,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. State Street Corp grew its holdings in Visa by 0.8% during 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 grew its holdings in 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 valued at $15,411,395,000 after purchasing an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD increased its position in 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 worth $14,411,480,000 after buying an additional 716,218 shares during the last quarter. Finally, Capital World Investors increased its position in Visa by 0.8% in 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 last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on V shares. Bank of America began coverage on Visa in a research report on Thursday, March 5th. They set a “buy” rating and a $410.00 price target on the stock. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. BMO Capital Markets began coverage on Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective on the stock. Loop Capital assumed coverage on shares of Visa in a report on Tuesday, March 31st. They set a “buy” rating and a $387.00 price objective on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $387.78.

Check Out Our Latest Analysis on V

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction 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. This represents a 67.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the 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 sale, the chief financial officer 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 SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

More Visa News

Here are the key news stories impacting Visa this week:

Visa Price Performance

Visa stock opened at $327.67 on Friday. The firm has a market capitalization of $587.76 billion, a P/E ratio of 28.54, a PEG ratio of 1.76 and a beta of 0.77. Visa Inc. has a one year low of $293.89 and a one year high of $359.66. 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 business has a fifty day moving average price of $320.85 and a 200-day moving average price of $324.21.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data 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 business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the prior 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, equities research analysts forecast that Visa Inc. will post 13.09 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s dividend payout ratio is currently 23.34%.

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

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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