Visa (NYSE:V) CEO Ryan Mcinerney Sells 20,970 Shares of Stock

Visa Inc. (NYSE:V) CEO Ryan Mcinerney sold 20,970 shares of Visa stock in a transaction on Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,162,953.50. This trade represents a 58.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ryan Mcinerney also recently made the following trade(s):

• On Wednesday, April 29th, Ryan Mcinerney sold 31,455 shares of Visa stock. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70.

Visa Stock Up 0.3%

V stock opened at $342.63 on Wednesday. The stock has a market capitalization of $614.60 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 1.82 and a beta of 0.77. The company has a fifty day moving average of $324.40 and a 200-day moving average of $324.52. 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 Inc. has a one year low of $293.89 and a one year high of $359.66.

Visa (NYSE:V) last issued its quarterly earnings results 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. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 earnings per share. As a group, 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 was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is 23.34%.

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

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa is participating in the launch of the Open USD stablecoin initiative alongside major players like Stripe, Google, and BlackRock, a sign that the company is staying central to the next wave of digital payments and money movement. Visa and Google Sign on to Use Money Movement Stablecoin OpenUSD
• Positive Sentiment: Visa’s new travel platform expansion and cross-border partnership push could support transaction growth, especially as travel and experience spending remain strong. Visa redefines its role in travel with the global expansion of Visa Destinations
• Positive Sentiment: Visa said online deal hunting is helping consumers keep spending on discretionary purchases, which is encouraging for payment volume trends. Visa Says Online Deal Hunting Sustains Consumers’ Discretionary Spending
• Neutral Sentiment: Visa also unveiled smartphone-based tools for small businesses to accept payments through Visa Pay, Visa Accept and Visa Direct, which supports its long-term growth story but is more incremental near term. Visa Brings Card Acceptance to SMB Smartphones
• Negative Sentiment: CEO Ryan McInerney sold 20,970 shares in a pre-arranged transaction, which can create a small amount of investor caution even though it was conducted under a 10b5-1 plan. SEC filing for CEO stock sale

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore set a $350.00 price objective on Visa in a research report on Wednesday, April 29th. Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. UBS Group upped their target price on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Finally, Piper Sandler assumed coverage on Visa in a research note on Monday. They set an “overweight” rating and a $394.00 price target on the stock. Six research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $397.96.

Institutional Investors Weigh In On Visa

A number of large investors have recently added to or reduced their stakes in V. Brighton Jones LLC increased its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. lifted its stake in Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after buying an additional 477 shares in the last quarter. Matrix Asset Advisors Inc. NY grew its holdings in Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its holdings in Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

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.