Mach 1 Financial Group LLC Has $2.46 Million Position in Visa Inc. $V

Mach 1 Financial Group LLC boosted its holdings in Visa Inc. (NYSE:VFree Report) by 237.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,025 shares of the credit-card processor’s stock after acquiring an additional 4,945 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Visa were worth $2,464,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Clayton Financial Group LLC boosted its holdings in Visa by 446.2% during the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after acquiring an additional 58 shares during the last quarter. PayPay Securities Corp boosted its holdings in Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 38 shares during the last quarter. Cresta Advisors Ltd. purchased a new position in Visa during the 4th quarter worth $26,000. Parvin Asset Management LLC boosted its holdings in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Dorato Capital Management purchased a new position in Visa during the 4th quarter worth $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their position. The transaction was disclosed in a document filed 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 Visa stock in a transaction on 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 sale, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 42,744 shares of company stock worth $14,356,010 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group lifted their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, May 12th. Finally, Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $387.67.

View Our Latest Stock Analysis on V

Visa Trading Up 0.4%

NYSE V opened at $331.18 on Thursday. The stock has a market capitalization of $594.06 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.76 and a beta of 0.78. Visa Inc. has a one year low of $293.89 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The business’s fifty day moving average is $312.03 and its 200-day moving average is $325.46.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The company 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 for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 EPS. Equities research analysts predict that Visa Inc. will post 13.09 EPS for the current year.

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.

Visa Dividend Announcement

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

About Visa

(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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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