Verition Fund Management LLC Makes New Investment in Visa Inc. (NYSE:V)

Verition Fund Management LLC purchased a new position in shares of Visa Inc. (NYSE:V) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,883 shares of the credit-card processor’s stock, valued at approximately $2,093,000.

Other hedge funds have also modified their holdings of the company. Eukles Asset Management purchased a new position in shares of Visa in the first quarter valued at approximately $39,000. Mach 1 Financial Group Inc. purchased a new position in shares of Visa in the fourth quarter valued at approximately $42,000. TFO TDC LLC purchased a new position in shares of Visa in the first quarter valued at approximately $43,000. ADE LLC acquired a new stake in shares of Visa in the fourth quarter valued at approximately $63,000. Finally, Lloyd Advisory Services LLC. increased its holdings in shares of Visa by 101.8% in the first quarter. Lloyd Advisory Services LLC. now owns 335 shares of the credit-card processor’s stock valued at $71,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 81.11% of the company’s stock.

Shares of NYSE V opened at $243.66 on Thursday. The stock has a market cap of $474.64 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.12 and a quick ratio of 2.12. The business’s 50-day simple moving average is $233.70. Visa Inc. has a 1 year low of $179.23 and a 1 year high of $250.46.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.12. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.54 billion. Visa had a return on equity of 33.86% and a net margin of 49.93%. Visa’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 EPS. Equities analysts anticipate that Visa Inc. will post 5.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, May 13th. Visa’s dividend payout ratio (DPR) is currently 25.40%.

In related news, insider Rajat Taneja sold 42,336 shares of the business’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $240.00, for a total value of $10,160,640.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $235.11, for a total value of $2,115,990.00. The disclosure for this sale can be found here. Insiders have sold 88,047 shares of company stock worth $20,834,001 in the last quarter. Insiders own 0.19% of the company’s stock.

Several equities research analysts recently commented on V shares. Truist Securities increased their price target on Visa from $230.00 to $250.00 in a report on Wednesday, April 28th. Morgan Stanley raised their target price on Visa from $258.00 to $279.00 and gave the stock an “overweight” rating in a research note on Monday, May 3rd. Mizuho raised their target price on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Piper Sandler raised Visa from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $234.00 to $260.00 in a research note on Monday, June 7th. Finally, Barclays raised their target price on Visa from $275.00 to $284.00 and gave the stock an “overweight” rating in a research note on Sunday, June 6th. Twenty-two research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $258.92.

Visa Profile

Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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