McLaughlin Asset Management Inc. Invests $1.13 Million in Visa Inc. $V

McLaughlin Asset Management Inc. acquired a new position in Visa Inc. (NYSE:VFree Report) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,224 shares of the credit-card processor’s stock, valued at approximately $1,131,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Invariant Investment Management purchased a new stake in Visa during the fourth quarter valued at about $969,000. Vanguard Group Inc. boosted 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 worth $56,455,834,000 after purchasing an additional 1,054,343 shares in the last quarter. Swiss Life Asset Management Ltd increased its position 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 purchasing an additional 23,863 shares during the last quarter. Savvy Advisors Inc. raised 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 buying an additional 6,688 shares in the last quarter. Finally, Ticino Wealth bought a new stake in Visa in the 4th quarter worth approximately $1,837,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. The trade was 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. 0.12% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on V shares. Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. UBS Group boosted their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Truist Financial set a $371.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets initiated coverage on shares of Visa in a report on Tuesday, April 21st. They set an “outperform” rating and a $365.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Six research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $387.78.

Check Out Our Latest Report on Visa

Visa Price Performance

V opened at $327.67 on Friday. The stock’s 50 day simple moving average is $320.85 and its 200 day simple moving average is $324.21. 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 1 year low of $293.89 and a 1 year high of $359.66. The firm has a market cap of $587.76 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.76 and a beta of 0.77.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.76 earnings per share. As a group, analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa announced that its board has initiated a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors 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 paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 12th. Visa’s payout ratio is presently 23.34%.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa 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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