Zhang Financial LLC Boosts Holdings in Visa Inc. $V

Zhang Financial LLC increased its stake in shares of Visa Inc. (NYSE:VFree Report) by 30.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,032 shares of the credit-card processor’s stock after acquiring an additional 1,879 shares during the period. Zhang Financial LLC’s holdings in Visa were worth $2,427,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after acquiring an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY lifted its stake in Visa by 16.9% in the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 164 shares in the last quarter. Finally, Schnieders Capital Management LLC. boosted its stake in Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after buying an additional 2,230 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

V has been the topic of several recent analyst reports. Loop Capital initiated coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price on the stock. Clear Str raised Visa to a “strong-buy” rating in a research note on Thursday. Barclays started coverage on shares of Visa in a report on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Citigroup decreased their price objective on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Finally, Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Seven research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $398.36.

Read Our Latest Report on Visa

Insider Activity at Visa

In related news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction 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 transaction, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,625,440. This represents a 9.92% 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. Over the last 90 days, insiders have sold 75,581 shares of company stock valued at $25,627,975. Company insiders own 0.12% of the company’s stock.

Visa Stock Down 1.8%

Shares of NYSE:V opened at $358.51 on Friday. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $365.14. The stock has a market cap of $643.08 billion, a P/E ratio of 31.23, a P/E/G ratio of 1.95 and a beta of 0.75. The firm has a fifty day moving average price of $334.41 and a 200 day moving average price of $325.20. 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 (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during 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 company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.76 EPS. Sell-side analysts predict that Visa Inc. will post 13.11 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.7%. Visa’s payout ratio is presently 23.34%.

Visa declared that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Visa News Roundup

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

Institutional Ownership by Quarter for Visa (NYSE:V)

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