Independent Financial Group LLC Purchases New Shares in Visa Inc. $V

Independent Financial Group LLC purchased a new position in shares of Visa Inc. (NYSE:VFree Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,704 shares of the credit-card processor’s stock, valued at approximately $5,351,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Clayton Financial Group LLC grew its stake in shares of Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares during the last quarter. PayPay Securities Corp raised its position in Visa by 102.7% in the 4th 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 last quarter. Cresta Advisors Ltd. acquired a new position in Visa during the 4th quarter worth $26,000. Parvin Asset Management LLC lifted its holdings in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in Visa during the 4th quarter worth $30,000. Institutional investors own 82.15% of the company’s stock.

Key Visa News

Here are the key news stories impacting Visa this week:

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s 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 transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on V. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday. Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Citigroup lowered their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Seven analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $398.36.

Check Out Our Latest Research Report on Visa

Visa Price Performance

Shares of V stock opened at $358.51 on Friday. The firm’s 50 day moving average price is $334.41 and its two-hundred day moving average price is $325.20. 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 52-week low of $293.89 and a 52-week high of $365.14. The stock has a market cap of $643.08 billion, a PE ratio of 31.23, a PEG ratio of 1.95 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.76 EPS. As a group, analysts forecast that Visa Inc. will post 13.11 EPS for the current year.

Visa declared that its board has authorized a stock repurchase program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s payout ratio is 23.34%.

Visa Company Profile

(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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