Visa Inc. $V Shares Bought by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its holdings in Visa Inc. (NYSE:V) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,046 shares of the credit-card processor’s stock after acquiring an additional 6,020 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Visa were worth $22,984,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in V. Cedar Mountain Advisors LLC boosted its holdings in Visa by 13.7% during the first quarter. Cedar Mountain Advisors LLC now owns 358 shares of the credit-card processor’s stock worth $108,000 after buying an additional 43 shares in the last quarter. Manning & Napier Advisors LLC grew its position in Visa by 22.1% during the first quarter. Manning & Napier Advisors LLC now owns 639,378 shares of the credit-card processor’s stock worth $193,246,000 after buying an additional 115,699 shares during the period. Costello Asset Management INC increased its holdings in Visa by 2.0% in the first quarter. Costello Asset Management INC now owns 25,584 shares of the credit-card processor’s stock valued at $7,732,000 after buying an additional 496 shares in the last quarter. Equitable Trust Co. increased its holdings in Visa by 0.3% in the first quarter. Equitable Trust Co. now owns 74,637 shares of the credit-card processor’s stock valued at $22,558,000 after buying an additional 212 shares in the last quarter. Finally, Whipplewood Advisors LLC lifted its position in shares of Visa by 109.4% during the 1st quarter. Whipplewood Advisors LLC now owns 1,095 shares of the credit-card processor’s stock valued at $331,000 after acquiring an additional 572 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of several research reports. Truist Financial set a $371.00 target price on Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday. Barclays assumed coverage on shares of Visa in a report on Tuesday. They set an “overweight” rating and a $420.00 target price for the company. Finally, BMO Capital Markets initiated coverage on shares of Visa in a research report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price for the company. Seven equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $397.91.

Visa Trading Up 0.2%

NYSE:V traded up $0.85 during mid-day trading on Friday, reaching $349.05. The company’s stock had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. The company’s fifty day simple moving average is $330.81 and its two-hundred day simple moving average is $325.05. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $365.02. The stock has a market cap of $626.12 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.86 and a beta of 0.75.

Visa (NYSE:V) last posted 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. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the firm posted $2.76 earnings per share. Visa’s revenue was up 17.1% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post 13.1 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.34%.

Visa declared that its board has approved a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares in the company, valued at $6,625,440. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 75,581 shares of company stock valued at $25,627,975. Corporate insiders own 0.12% of the company’s stock.

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.