Mizuho Markets Cayman LP Buys Shares of 1,575 Visa Inc. $V

Mizuho Markets Cayman LP purchased a new position in shares of Visa Inc. (NYSE:V) during the first quarter, Holdings Channel.com reports. The fund purchased 1,575 shares of the credit-card processor’s stock, valued at approximately $476,000.

Other institutional investors also recently made changes to their positions in the company. Clayton Financial Group LLC raised its holdings in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp lifted its position in 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 purchasing an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC boosted its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in shares of Visa during the 4th quarter valued at $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Down 0.8%

Visa stock opened at $353.10 on Thursday. The firm has a market cap of $633.38 billion, a price-to-earnings ratio of 30.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.14. The firm’s 50 day moving average price is $336.39 and its two-hundred day moving average price is $325.10. 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:V) last announced its quarterly earnings data 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. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.76 EPS. On average, research analysts predict that Visa Inc. will post 13.13 EPS for the current fiscal year.

Visa Dividend Announcement

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

Visa announced that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms have recently commented on V. UBS Group boosted their price objective on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 target price on shares of Visa in a research note on Tuesday, June 2nd. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Finally, Barclays initiated coverage on shares of Visa in a report on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 price target for the company. Eight equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus price target of $398.36.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through 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 Visa stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. This represents a 40.87% 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 valued at $25,627,975 over the last three months. Insiders own 0.12% of the company’s stock.

About Visa

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.