VCI Wealth Management LLC Sells 1,918 Shares of Visa Inc. $V

VCI Wealth Management LLC trimmed its holdings in shares of Visa Inc. (NYSE:V) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,361 shares of the credit-card processor’s stock after selling 1,918 shares during the period. Visa makes up about 1.0% of VCI Wealth Management LLC’s investment portfolio, making the stock its 21st largest holding. VCI Wealth Management LLC’s holdings in Visa were worth $3,736,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after buying an additional 58 shares during the period. PayPay Securities Corp increased its position in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new stake in Visa during the fourth quarter valued at $26,000. Parvin Asset Management LLC lifted its holdings in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in Visa in the fourth quarter valued at about $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of NYSE:V opened at $336.96 on Friday. 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 company has a market capitalization of $604.43 billion, a P/E ratio of 29.35, a P/E/G ratio of 1.80 and a beta of 0.77. The firm’s 50 day simple moving average is $323.36 and its two-hundred day simple moving average is $324.30.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.76 earnings per share. Research analysts expect that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa declared that its board has authorized a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Visa Announces Dividend

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

Insider Transactions at Visa

In other 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 $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated 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 sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This represents a 67.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.12% of the stock is owned by company insiders.

Visa News Roundup

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on V shares. Morgan Stanley restated an “overweight” rating and set a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of Visa in a research note on Wednesday, April 29th. Citigroup dropped their price objective on shares of Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Truist Financial set a $371.00 target price on shares of Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 target price on shares of Visa in a report on Tuesday, June 2nd. Six 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’s stock. According to MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus target price of $387.78.

Visa Company 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.