Meyer Handelman Co. Acquires 8,242 Shares of Visa Inc. $V

Meyer Handelman Co. raised its holdings in shares of Visa Inc. (NYSE:V) by 8.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,011 shares of the credit-card processor’s stock after purchasing an additional 8,242 shares during the quarter. Meyer Handelman Co.’s holdings in Visa were worth $32,947,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Chapman Financial Group LLC raised its position in Visa by 0.9% during the 3rd quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock valued at $1,096,000 after purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd lifted its stake in Visa by 0.3% in the fourth quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock worth $3,313,000 after acquiring an additional 30 shares during the period. Bank OZK grew its holdings in Visa by 3.7% during the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock worth $293,000 after acquiring an additional 31 shares in the last quarter. FOCUS Wealth Advisors LLC increased its position in Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after purchasing an additional 31 shares during the period. Finally, Planned Solutions Inc. increased its position in Visa by 2.0% during the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after purchasing an additional 31 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of Visa in a research note on Wednesday, April 29th. UBS Group boosted their price target on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets started coverage on Visa in a research report 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 issued a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Oppenheimer reissued an “outperform” rating and set a $403.00 price target (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 assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $387.78.

Visa News Summary

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Visa Stock Performance

V opened at $336.96 on Friday. The firm’s 50-day moving average price is $323.36 and its 200-day moving average price is $324.30. The company has a market cap of $604.43 billion, a P/E ratio of 29.35, a price-to-earnings-growth ratio of 1.80 and a beta of 0.77. 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.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.76 EPS. As a group, equities analysts anticipate that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Visa declared that its board has authorized a share buyback program 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Visa

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was 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 owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the 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 transaction, 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. 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 currently owned by company insiders.

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.