Worthington Financial Partners LLC Invests $1.01 Million in Visa Inc. $V

Worthington Financial Partners LLC acquired a new position in shares of Visa Inc. (NYSE:VFree Report) in the fourth quarter, Holdings Channel reports. The firm acquired 2,871 shares of the credit-card processor’s stock, valued at approximately $1,007,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Invariant Investment Management acquired a new stake in Visa in the fourth quarter valued at approximately $969,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,054,343 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Visa by 4.7% during the third quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock worth $180,088,000 after purchasing an additional 23,863 shares in the last quarter. Savvy Advisors Inc. lifted its holdings in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after purchasing an additional 6,688 shares during the last quarter. Finally, Ticino Wealth purchased a new stake in shares of Visa during the 4th quarter valued at $1,837,000. Institutional investors own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Analyst Ratings Changes

V has been the topic of several research analyst reports. Bank of America started coverage on Visa in a research note on Thursday, March 5th. They set a “buy” rating and a $410.00 target price on the stock. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Loop Capital assumed coverage on Visa in a research note on Tuesday, March 31st. They set a “buy” rating and a $387.00 price target on the stock. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price objective on shares of Visa in a report on Tuesday, June 2nd. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and an average target price of $387.78.

View Our Latest Report on V

Visa Trading Up 0.1%

NYSE:V opened at $327.67 on Friday. The company has a market capitalization of $587.76 billion, a P/E ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The firm has a fifty day simple moving average of $321.23 and a 200-day simple moving average of $324.24.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for 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 firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.76 EPS. On average, equities research analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current year.

Visa Dividend Announcement

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

Visa announced that its Board of Directors has approved a stock repurchase 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 purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

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 transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Visa stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is currently owned by corporate insiders.

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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