Visa Inc. $V Shares Sold by EJMK Ventures LLC

EJMK Ventures LLC reduced its stake in shares of Visa Inc. (NYSE:VFree Report) by 27.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,594 shares of the credit-card processor’s stock after selling 1,393 shares during the quarter. Visa comprises about 0.6% of EJMK Ventures LLC’s investment portfolio, making the stock its 29th largest holding. EJMK Ventures LLC’s holdings in Visa were worth $1,086,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CHICAGO TRUST Co NA grew its position in Visa by 31.3% in the 1st quarter. CHICAGO TRUST Co NA now owns 24,900 shares of the credit-card processor’s stock valued at $7,526,000 after buying an additional 5,941 shares in the last quarter. Cassia Capital Partners LLC raised its position in shares of Visa by 5.5% during the 1st quarter. Cassia Capital Partners LLC now owns 4,217 shares of the credit-card processor’s stock worth $1,275,000 after buying an additional 219 shares in the last quarter. Deltec Asset Management LLC raised its position in shares of Visa by 6.6% during the 1st quarter. Deltec Asset Management LLC now owns 48,403 shares of the credit-card processor’s stock worth $14,629,000 after buying an additional 3,000 shares in the last quarter. Barnes Pettey Financial Advisors LLC lifted its stake in shares of Visa by 10.2% in the 1st quarter. Barnes Pettey Financial Advisors LLC now owns 2,156 shares of the credit-card processor’s stock worth $652,000 after acquiring an additional 200 shares during the period. Finally, Lindsell Train Ltd boosted its holdings in shares of Visa by 3.0% in the first quarter. Lindsell Train Ltd now owns 10,300 shares of the credit-card processor’s stock valued at $3,113,000 after acquiring an additional 300 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Up 2.9%

Shares of NYSE:V opened at $361.31 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $648.10 billion, a price-to-earnings ratio of 31.47, a PEG ratio of 1.87 and a beta of 0.75. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $362.13. The company has a 50 day moving average price of $326.17 and a 200 day moving average price of $324.64.

Visa (NYSE:VGet Free Report) 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 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 quarter in the prior year, the company earned $2.76 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Visa Inc. will post 13.1 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Visa announced that its board has initiated a share 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore set a $350.00 target price on Visa in a report on Wednesday, April 29th. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Bank of America started coverage on Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective on the stock. Finally, Oppenheimer reaffirmed 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, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $397.96.

Read Our Latest Analysis on Visa

Insiders Place Their Bets

In other news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction dated Wednesday, July 1st. The stock was 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 $5,219,704.26. This represents a 40.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 73,554 shares of company stock worth $24,898,255 over the last ninety days. 0.12% of the stock is owned by insiders.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa Profile

(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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