Visa Inc. $V Shares Bought by Lifeworks Advisors LLC

Lifeworks Advisors LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 294.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Invariant Investment Management acquired a new stake in shares of Visa during the fourth quarter worth $969,000. Nixon Peabody Trust Co. raised its position in Visa by 58.1% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock worth $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. raised its position in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of Visa by 4.7% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock worth $180,088,000 after acquiring an additional 23,863 shares during the period. Finally, Savvy Advisors Inc. lifted its stake in shares of Visa by 30.1% in the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock worth $10,143,000 after acquiring an additional 6,688 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on V shares. Evercore set a $350.00 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 objective on shares of Visa in a research report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Weiss Ratings upgraded Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. Finally, Oppenheimer reissued an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $397.91.

Visa Trading Up 0.0%

Shares of V opened at $349.05 on Monday. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02. 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 PEG ratio of 1.86 and a beta of 0.75. The firm’s 50-day moving average is $330.81 and its two-hundred day moving average is $324.86.

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 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%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $2.76 EPS. On average, research analysts predict that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has initiated a share repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Visa Dividend Announcement

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

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.