Jericho Financial LLP Buys 1,565 Shares of Visa Inc. $V

Jericho Financial LLP grew its stake in shares of Visa Inc. (NYSE:VFree Report) by 8.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 19,133 shares of the credit-card processor’s stock after buying an additional 1,565 shares during the quarter. Visa accounts for approximately 3.6% of Jericho Financial LLP’s portfolio, making the stock its 11th biggest position. Jericho Financial LLP’s holdings in Visa were worth $5,783,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Ransom Advisory Ltd increased its position in Visa by 0.3% in the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock valued at $3,313,000 after buying an additional 30 shares in the last quarter. Bank OZK boosted its holdings in Visa by 3.7% in the third 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 grew its stake in Visa by 0.4% in the fourth quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock valued at $2,704,000 after acquiring an additional 31 shares during the period. Planned Solutions Inc. grew its stake in Visa by 2.0% in the fourth quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the period. Finally, Frederick Financial Consultants LLC grew its stake in Visa by 2.0% in the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Truist Financial set a $371.00 target price on Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Barclays started coverage on shares of Visa in a research report on Tuesday. They issued an “overweight” rating and a $420.00 price target for the company. Evercore set a $350.00 price target on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley restated an “overweight” rating and set a $415.00 price objective on shares of Visa in a report on Wednesday, April 29th. Finally, Piper Sandler initiated coverage on shares of Visa in a research note on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective on the stock. Six equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and a consensus target price of $397.91.

View Our Latest Stock Report on Visa

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were 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 trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,581 shares of company stock valued at $25,627,975 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Visa Trading Down 1.3%

Shares of Visa stock opened at $347.66 on Thursday. The company has a market capitalization of $623.62 billion, a P/E ratio of 30.28, a price-to-earnings-growth ratio of 1.88 and a beta of 0.75. The stock has a fifty day simple moving average of $329.75 and a 200 day simple moving average of $324.89. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $2.76 EPS. On average, sell-side analysts anticipate that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Visa announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Visa Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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