BTC Capital Management Inc. Acquires 2,511 Shares of Visa Inc. $V

BTC Capital Management Inc. boosted its stake in shares of Visa Inc. (NYSE:V) by 62.9% during the first quarter, Holdings Channel reports. The firm owned 6,501 shares of the credit-card processor’s stock after purchasing an additional 2,511 shares during the quarter. BTC Capital Management Inc.’s holdings in Visa were worth $1,964,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Clayton Financial Group LLC boosted its holdings in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after buying an additional 58 shares during the last quarter. PayPay Securities Corp raised its stake in Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new position in shares of Visa in the fourth quarter worth $26,000. Parvin Asset Management LLC lifted its stake in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in shares of Visa in the fourth quarter worth about $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 on 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 in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. BMO Capital Markets began coverage on Visa in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 price objective on the stock. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Loop Capital began coverage on Visa in a research report on Tuesday, March 31st. They set a “buy” rating and a $387.00 target price for the company. Finally, Raymond James Financial reissued an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $387.78.

Visa Price Performance

V opened at $336.96 on Friday. The business has a fifty day moving average of $323.36 and a 200 day moving average of $324.30. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66. 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 stock has a market cap of $604.43 billion, a P/E ratio of 29.35, a PEG ratio of 1.77 and a beta of 0.77.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.76 earnings per share. As a group, sell-side analysts anticipate that Visa Inc. will post 13.09 EPS for the current year.

Visa announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Visa Announces Dividend

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

More Visa News

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

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.