Goldenstone Wealth Management LLC Purchases Shares of 2,579 Visa Inc. $V

Goldenstone Wealth Management LLC acquired a new stake in shares of Visa Inc. (NYSE:VFree Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,579 shares of the credit-card processor’s stock, valued at approximately $905,000.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the last quarter. Capital World Investors boosted its position in Visa by 0.8% during 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 acquiring an additional 193,288 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Visa by 4.2% during the third quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock worth $4,475,403,000 after acquiring an additional 530,995 shares during the last quarter. Legal & General Group Plc boosted its position in Visa by 3.3% during the third quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock worth $4,253,224,000 after acquiring an additional 399,845 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Visa by 12.2% during the third quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor’s stock worth $4,067,032,000 after acquiring an additional 1,298,435 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of analyst reports. Piper Sandler set a $160.00 target price on shares of Visa in a research report on Wednesday, January 28th. Loop Capital assumed coverage on shares of Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price on the stock. Bank of America assumed coverage on shares of Visa in a research note on Thursday, March 5th. They set a “buy” rating and a $410.00 price target on the stock. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research note on Friday, January 30th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $387.67.

Check Out Our Latest Analysis on Visa

Visa Stock Performance

NYSE:V opened at $331.18 on Thursday. 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 cap of $594.06 billion, a P/E ratio of 28.85, a P/E/G ratio of 1.76 and a beta of 0.78. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $375.51. The firm’s 50 day moving average is $312.03 and its two-hundred day moving average is $325.46.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the firm posted $2.76 earnings per share. Visa’s revenue was up 17.1% on a year-over-year basis. Analysts expect that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.34%.

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

Insider Activity

In other news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. This represents a 19.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 42,744 shares of company stock valued at $14,356,010. Company insiders own 0.12% of the company’s stock.

Key Stories Impacting Visa

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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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