Elefante Mark B Acquires 1,515 Shares of Visa Inc. $V

Elefante Mark B lifted its stake in Visa Inc. (NYSE:V) by 146.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,550 shares of the credit-card processor’s stock after purchasing an additional 1,515 shares during the period. Elefante Mark B’s holdings in Visa were worth $875,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. XXEC Inc. raised its stake in shares of Visa by 153,118.8% in the second quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after buying an additional 186,138,883 shares during the period. Vanguard Group Inc. grew its stake in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. State Street Corp increased its holdings in Visa by 0.8% in the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after acquiring an additional 626,821 shares in the last quarter. Geode Capital Management LLC increased its holdings in Visa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after acquiring an additional 388,996 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Visa by 1.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after acquiring an additional 716,218 shares during the period. 82.15% of the stock is owned by institutional investors.

Insider Activity at Visa

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This represents a 53.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 90,759 shares of company stock valued at $32,375,779. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on V shares. Wells Fargo & Company reaffirmed an “overweight” rating and set a $432.00 price target (up from $412.00) on shares of Visa in a report on Thursday, July 30th. Evercore set a $350.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Royal Bank Of Canada restated an “outperform” rating and set a $412.00 price objective (up from $395.00) on shares of Visa in a research report on Wednesday, July 29th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $413.58.

Visa Stock Up 0.0%

NYSE V opened at $371.09 on Monday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $662.18 billion, a PE ratio of 31.56, a P/E/G ratio of 1.99 and a beta of 0.74. The stock’s 50 day moving average is $353.73 and its 200 day moving average is $329.61.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion during the quarter, compared to analyst estimates of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $2.98 EPS. Research analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

Visa 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.