Greenwood Gearhart LLC Has $9.44 Million Stock Holdings in Visa Inc. $V

Greenwood Gearhart LLC boosted its position in Visa Inc. (NYSE:VFree Report) by 10.3% during the first quarter, HoldingsChannel.com reports. The fund owned 31,245 shares of the credit-card processor’s stock after buying an additional 2,922 shares during the quarter. Greenwood Gearhart LLC’s holdings in Visa were worth $9,443,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Eaton Cambridge Inc. boosted its stake in Visa by 18.8% in the first quarter. Eaton Cambridge Inc. now owns 765 shares of the credit-card processor’s stock valued at $231,000 after buying an additional 121 shares in the last quarter. S&CO Inc. raised its stake in Visa by 19.2% during the first quarter. S&CO Inc. now owns 37,553 shares of the credit-card processor’s stock worth $11,350,000 after acquiring an additional 6,055 shares in the last quarter. True North Advisors LLC raised its stake in Visa by 12.2% during the first quarter. True North Advisors LLC now owns 19,789 shares of the credit-card processor’s stock worth $5,981,000 after acquiring an additional 2,145 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Visa in the first quarter worth about $181,226,000. Finally, Swiss National Bank lifted its holdings in shares of Visa by 6.3% in the first quarter. Swiss National Bank now owns 4,947,360 shares of the credit-card processor’s stock worth $1,495,290,000 after acquiring an additional 292,480 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

V has been the topic of a number of research analyst reports. UBS Group raised their price target on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Truist Financial set a $371.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. Finally, Evercore set a $350.00 target price on shares of Visa in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Visa presently has an average rating of “Buy” and an average target price of $398.36.

Check Out Our Latest Analysis on Visa

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total value of $3,608,455.10. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,219,704.26. This represents a 40.87% decrease in their position. 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 firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,581 shares of company stock worth $25,627,975 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Price Performance

Visa stock opened at $358.51 on Monday. The stock has a 50-day moving average price of $334.41 and a two-hundred day moving average price of $324.99. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $365.14. The company has a market capitalization of $643.08 billion, a PE ratio of 31.23, a P/E/G ratio of 1.91 and a beta of 0.75. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

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

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

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

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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