Bleakley Financial Group LLC Acquires 2,060 Shares of Visa Inc. $V

Bleakley Financial Group LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 3.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 62,110 shares of the credit-card processor’s stock after purchasing an additional 2,060 shares during the quarter. Bleakley Financial Group LLC’s holdings in Visa were worth $21,782,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of V. Clayton Financial Group LLC increased its position in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the period. PayPay Securities Corp increased its position 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 period. Cresta Advisors Ltd. bought a new position in Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC increased 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 worth $26,000 after acquiring an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in Visa during the fourth quarter worth about $30,000. 82.15% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the sale, the director owned 2,679 shares in the company, valued at approximately $829,471.98. The trade was a 19.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 42,744 shares of company stock worth $14,356,010. Corporate insiders own 0.12% of the company’s stock.

Visa Trading Up 0.1%

Shares of Visa stock opened at $329.21 on Tuesday. The company has a market capitalization of $590.53 billion, a price-to-earnings ratio of 28.68, a PEG ratio of 1.76 and a beta of 0.78. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $375.51. The firm’s 50-day moving average price is $313.23 and its two-hundred day moving average price is $325.27.

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, beating 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 period last year, the company posted $2.76 EPS. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has authorized a share repurchase plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Analysts Set New Price Targets

A number of research firms recently commented on V. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. BMO Capital Markets initiated coverage on shares of Visa in a research note on Tuesday, April 21st. They set an “outperform” rating and a $365.00 price objective on the stock. Raymond James Financial reiterated an “outperform” rating and set a $389.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Macquarie Infrastructure reiterated an “outperform” rating and set a $410.00 price objective on shares of Visa in a research note on Friday, January 30th. Finally, Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research note on Monday, February 2nd. Six research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Visa presently has a consensus rating of “Buy” and a consensus price target of $387.67.

About Visa

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.