Visa Inc. $V Shares Bought by Smith Chas P & Associates PA Cpas

Smith Chas P & Associates PA Cpas grew its stake in Visa Inc. (NYSE:VFree Report) by 64.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 155,587 shares of the credit-card processor’s stock after buying an additional 61,262 shares during the quarter. Visa accounts for about 2.9% of Smith Chas P & Associates PA Cpas’ portfolio, making the stock its 9th largest holding. Smith Chas P & Associates PA Cpas’ holdings in Visa were worth $54,566,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Visa by 0.7% in 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 buying an additional 1,054,343 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $15,411,395,000 after buying an additional 388,996 shares during the period. Capital World Investors lifted its holdings in shares of Visa by 0.8% in the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after buying an additional 193,288 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Visa by 4.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor’s stock valued at $4,475,403,000 after buying an additional 530,995 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Visa by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor’s stock valued at $4,253,224,000 after buying an additional 399,845 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the sale, the director directly owned 2,679 shares in the company, valued at approximately $829,471.98. The trade was a 19.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer 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 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Visa Stock Performance

NYSE V opened at $327.71 on Thursday. The stock has a market capitalization of $587.83 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.74 and a beta of 0.78. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $313.98 and a 200 day moving average of $325.11.

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 analysts’ consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.76 EPS. Sell-side analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa announced that its board has approved a stock buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on V shares. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price objective on shares of Visa in a report on Friday, January 30th. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Oppenheimer reissued an “outperform” rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Finally, Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Buy” and an average price target of $386.70.

Check Out Our Latest Analysis on Visa

Visa Company 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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