74,473 Shares in Visa Inc. $V Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in shares of Visa Inc. (NYSE:VFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 74,473 shares of the credit-card processor’s stock, valued at approximately $22,509,000. Visa makes up about 0.4% of Y Intercept Hong Kong Ltd’s investment portfolio, making the stock its 16th biggest position.

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

Visa Trading Down 0.2%

NYSE V opened at $361.31 on Friday. The stock has a market cap of $648.10 billion, a PE ratio of 31.47, a PEG ratio of 1.93 and a beta of 0.75. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $362.13. The company’s 50-day moving average price is $327.17 and its 200-day moving average price is $324.90. 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 issued its earnings results 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 business had revenue of $11.23 billion for 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.76 EPS. Equities research analysts forecast that Visa Inc. will post 13.1 earnings per share for the current year.

Visa announced that its board has authorized a share buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are 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 paid a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s dividend payout ratio is 23.34%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 73,554 shares of company stock worth $24,898,255. 0.12% of the stock is owned by insiders.

More Visa News

Here are the key news stories impacting Visa this week:

Analysts Set New Price Targets

V has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of Visa in a research report on Wednesday, April 29th. Citigroup lowered their price target on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. UBS Group lifted their price objective on shares of Visa from $390.00 to $410.00 and gave the stock 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 report on Tuesday, May 12th. Finally, Piper Sandler started coverage on shares of Visa in a research note on Monday, June 29th. They issued an “overweight” rating and a $394.00 target price on the stock. Seven investment 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 company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and an average price target of $397.96.

Get Our Latest Stock Analysis on V

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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