Howe & Rusling Inc. Purchases 7,897 Shares of Visa Inc. $V

Howe & Rusling Inc. grew its position in Visa Inc. (NYSE:VFree Report) by 25.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,435 shares of the credit-card processor’s stock after buying an additional 7,897 shares during the quarter. Howe & Rusling Inc.’s holdings in Visa were worth $13,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of V. Clayton Financial Group LLC lifted its holdings in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp lifted its holdings in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa in the fourth quarter valued at about $26,000. Parvin Asset Management LLC lifted its holdings in shares of 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 purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management bought a new stake in Visa during the fourth quarter worth about $30,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings lowered Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Bank of America assumed coverage on Visa in a report on Thursday, March 5th. They set a “buy” rating and a $410.00 target price on the stock. Raymond James Financial reiterated an “outperform” rating and set a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Finally, UBS Group upped their target price on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $387.78.

Read Our Latest Report on Visa

Visa Stock Performance

V opened at $333.08 on Wednesday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $359.66. The firm has a market capitalization of $597.47 billion, a PE ratio of 29.01, a PEG ratio of 1.73 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day simple moving average is $319.80 and its 200 day simple moving average is $324.29.

Visa (NYSE:VGet Free Report) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $2.76 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa Announces Dividend

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

Visa declared that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 that occurred 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 sale, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.

Visa News Summary

Here are the key news stories impacting Visa this week:

Visa 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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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