Kooman & Associates Makes New Investment in Visa Inc. (NYSE:V)

Kooman & Associates bought a new stake in Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 630 shares of the credit-card processor’s stock, valued at approximately $221,000.

A number of other institutional investors also recently modified their holdings of V. Brighton Jones LLC boosted its stake in shares of Visa by 50.1% in the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. Brooklyn FI LLC bought a new stake in Visa during the fourth quarter valued at approximately $454,000. VSM Wealth Advisory LLC bought a new stake in shares of Visa in the 4th quarter worth approximately $63,000. Finally, First National Bank of Hutchinson increased its stake in shares of Visa by 3.1% in the fourth quarter. First National Bank of Hutchinson now owns 4,026 shares of the credit-card processor’s stock worth $1,272,000 after buying an additional 121 shares during the period. 82.15% of the stock is owned by institutional investors.

Visa Price Performance

NYSE:V opened at $350.01 on Friday. The business’s 50-day moving average price is $356.90 and its 200 day moving average price is $343.40. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. 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 firm has a market cap of $645.82 billion, a P/E ratio of 35.18, a PEG ratio of 2.37 and a beta of 0.92.

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

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors 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 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is currently 23.72%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Evercore ISI initiated coverage on shares of Visa in a research report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 price objective on the stock. Piper Sandler increased their price objective on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday. They issued a “buy” rating and a $410.00 target price for the company. Finally, Susquehanna restated a “positive” rating on shares of Visa in a report on Friday, March 21st. 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. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $375.52.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,108 shares of company stock worth $36,771,200. Insiders own 0.13% of the company’s stock.

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.