SHP Wealth Management Makes New $2.21 Million Investment in Visa Inc. $V

SHP Wealth Management acquired a new position in shares of Visa Inc. (NYSE:VFree Report) during the 4th quarter, Holdings Channel reports. The fund acquired 6,312 shares of the credit-card processor’s stock, valued at approximately $2,214,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Visa in the fourth quarter valued at $5,877,738,000. Cardano Risk Management B.V. raised its stake in Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after purchasing an additional 7,364,762 shares in the last quarter. J. Stern & Co. LLP lifted its position in Visa by 12,497.1% during the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after purchasing an additional 3,351,223 shares during the last quarter. Victory Capital Management Inc. lifted its position in Visa by 48.2% during the fourth quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after purchasing an additional 2,116,463 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after buying an additional 2,075,289 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

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Visa Trading Up 0.1%

Shares of NYSE V opened at $327.67 on Friday. 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 business has a fifty day simple moving average of $321.23 and a two-hundred day simple moving average of $324.24. The firm has a market cap of $587.76 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $359.66.

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

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given 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 dividend payout ratio is presently 23.34%.

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets started coverage on Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 price objective on shares of Visa in a research note on Tuesday, June 2nd. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Finally, Bank of America began coverage on Visa in a research report on Thursday, March 5th. They set a “buy” rating and a $410.00 target price on the stock. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $387.78.

View Our Latest Report on Visa

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is 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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