Lifeworks Advisors LLC Grows Position in Visa Inc. $V

Lifeworks Advisors LLC raised its stake in Visa Inc. (NYSE:V) by 294.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,351 shares of the credit-card processor’s stock after acquiring an additional 10,709 shares during the quarter. Lifeworks Advisors LLC’s holdings in Visa were worth $4,337,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. grew 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 worth $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY raised its holdings in Visa by 16.9% in 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 acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its holdings in Visa by 13.8% in 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 acquiring an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Up 0.0%

Shares of V opened at $349.05 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $626.12 billion, a P/E ratio of 30.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.75. The stock’s fifty day simple moving average is $330.81 and its 200 day simple moving average is $324.86. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The firm 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 firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.76 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 13.1 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a $0.67 dividend. 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 payout ratio is currently 23.34%.

Visa declared that its board has authorized a stock buyback plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Oppenheimer restated an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Piper Sandler assumed coverage on Visa in a research report on Monday, June 29th. They set an “overweight” rating and a $394.00 target price on the stock. Raymond James Financial reissued an “outperform” rating and issued a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $397.91.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by company insiders.

Visa Company Profile

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.