Gunpowder Capital Management LLC dba Oliver Wealth Management Invests $589,000 in Visa Inc. $V

Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new position in shares of Visa Inc. (NYSE:VFree Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,680 shares of the credit-card processor’s stock, valued at approximately $589,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clayton Financial Group LLC lifted its stake in shares of Visa by 446.2% in the 4th 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 boosted its holdings in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares in the last quarter. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter valued at about $26,000. Parvin Asset Management LLC increased its stake in shares of 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 acquired a new position in shares of Visa during the fourth quarter worth about $30,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.1%

Shares of NYSE V opened at $327.67 on Friday. 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 52 week low of $293.89 and a 52 week high of $359.66. The firm has a 50-day moving average price of $321.23 and a 200 day moving average price of $324.24. The stock has a market capitalization of $587.76 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data 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 net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

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

Visa Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is 23.34%.

Trending Headlines about Visa

Here are the key news stories impacting Visa this week:

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

V has been the subject of a number of recent analyst reports. Bank of America assumed coverage on shares of Visa in a research report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective for the company. UBS Group boosted their target price on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. Loop Capital began coverage on Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target for the company. Finally, 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. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $387.78.

Check Out Our Latest Analysis on V

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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