Sage Investment Counsel LLC Has $2.13 Million Stake in Visa Inc. $V

Sage Investment Counsel LLC raised its stake in shares of Visa Inc. (NYSE:VFree Report) by 37.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,047 shares of the credit-card processor’s stock after buying an additional 1,914 shares during the quarter. Visa comprises about 2.4% of Sage Investment Counsel LLC’s investment portfolio, making the stock its 6th biggest holding. Sage Investment Counsel LLC’s holdings in Visa were worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Invariant Investment Management bought a new stake in Visa in the 4th quarter worth about $969,000. Vanguard Group Inc. lifted its stake in 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. Swiss Life Asset Management Ltd boosted its holdings in shares of Visa by 4.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock valued at $180,088,000 after acquiring an additional 23,863 shares during the last quarter. Savvy Advisors Inc. boosted its holdings in shares of Visa by 30.1% during the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after acquiring an additional 6,688 shares during the last quarter. Finally, Ticino Wealth bought a new stake in shares of Visa in the fourth quarter worth approximately $1,837,000. 82.15% of the stock is owned by institutional investors.

Visa Stock Performance

NYSE:V opened at $361.31 on Friday. The stock has a 50-day simple moving average of $327.17 and a two-hundred day simple moving average of $324.90. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $362.13. 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 firm has a market capitalization of $648.10 billion, a PE ratio of 31.47, a P/E/G ratio of 1.93 and a beta of 0.75.

Visa (NYSE:VGet Free Report) last issued its quarterly 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. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same quarter in the prior year, the business posted $2.76 earnings per share. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Analysts forecast that Visa Inc. will post 13.1 EPS for the current year.

Visa declared that its board has authorized a share repurchase 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 buy up to 3.6% of its stock through open market purchases. Stock buyback plans are often 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. Investors of record on Tuesday, May 12th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,490 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,219,704.26. This trade represents a 40.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 firm’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 transaction of $3,455,653.59. Following the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 73,554 shares of company stock valued at $24,898,255 over the last three months. 0.12% of the stock is currently owned by insiders.

Trending Headlines about Visa

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Analyst Ratings Changes

A number of research analysts recently weighed in on V shares. Piper Sandler initiated coverage on shares of Visa in a research report on Monday. They set an “overweight” rating and a $394.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $389.00 target price on shares of Visa in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on shares of Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Weiss Ratings cut Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Finally, Evercore set a $350.00 price target on Visa in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $397.96.

Read Our Latest Stock Analysis on Visa

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.

Further Reading

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Institutional Ownership by Quarter for Visa (NYSE:V)

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