Sequoia Financial Advisors LLC Has $80.33 Million Stock Position in Visa Inc. $V

Sequoia Financial Advisors LLC lessened its stake in Visa Inc. (NYSE:V) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,787 shares of the credit-card processor’s stock after selling 4,395 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Visa were worth $80,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of V. Invariant Investment Management acquired a new stake in shares of Visa during the 4th quarter worth approximately $969,000. Nixon Peabody Trust Co. boosted its stake in Visa by 58.1% in the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after acquiring an additional 1,543 shares during the last quarter. Vanguard Group Inc. grew its holdings in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after acquiring an additional 1,054,343 shares during the period. Swiss Life Asset Management Ltd raised its position in shares of Visa by 4.7% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 527,530 shares of the credit-card processor’s stock valued at $180,088,000 after acquiring an additional 23,863 shares during the last quarter. Finally, Savvy Advisors Inc. lifted its stake in shares of Visa by 30.1% in the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after purchasing an additional 6,688 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 75,581 shares of company stock valued at $25,627,975. 0.12% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore set a $350.00 price objective on Visa in a report on Wednesday, April 29th. Truist Financial set a $371.00 price target on shares of Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Raymond James Financial restated an “outperform” rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $397.91.

Visa Stock Up 0.2%

Shares of NYSE:V traded up $0.85 during mid-day trading on Friday, reaching $349.05. 4,701,656 shares of the stock were exchanged, compared to its average volume of 8,985,494. The stock’s 50 day simple moving average is $330.81 and its 200-day simple moving average is $325.05. Visa Inc. has a one year low of $293.89 and a one year high of $365.02. The company has a market cap of $626.12 billion, a P/E ratio of 30.41, a P/E/G ratio of 1.86 and a beta of 0.75. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the business earned $2.76 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities research analysts predict that Visa Inc. will post 13.1 EPS for the current year.

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

Visa Announces Dividend

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

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.