CORDA Investment Management LLC. Boosts Stock Position in Visa Inc. (NYSE:V)

CORDA Investment Management LLC. grew its stake in shares of Visa Inc. (NYSE:V) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,763 shares of the credit-card processor’s stock after buying an additional 67 shares during the period. CORDA Investment Management LLC.’s holdings in Visa were worth $2,020,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new position in Visa in the 4th quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new position in Visa in the 4th quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa during the 4th quarter worth approximately $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa during the 4th quarter worth approximately $53,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

V stock opened at $356.90 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $356.66 and its two-hundred day simple moving average is $342.11. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The firm has a market cap of $658.54 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.40 and a beta of 0.92.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $9,772,810. This trade represents a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

V has been the topic of several recent research reports. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective on the stock. Macquarie decreased their price objective on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Barclays reaffirmed an “overweight” rating on shares of Visa in a report on Friday, June 13th. Finally, Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $372.84.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.