Clio Asset Management LLC Purchases 2,699 Shares of Visa Inc. $V

Clio Asset Management LLC increased its position in Visa Inc. (NYSE:V) by 10.0% in the 1st quarter, Holdings Channel reports. The firm owned 29,558 shares of the credit-card processor’s stock after buying an additional 2,699 shares during the period. Visa makes up 7.5% of Clio Asset Management LLC’s holdings, making the stock its 7th biggest holding. Clio Asset Management LLC’s holdings in Visa were worth $8,934,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in V. Vanguard Group Inc. lifted its stake in Visa by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after buying an additional 1,054,343 shares during the last quarter. State Street Corp grew its position in shares of Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after acquiring an additional 626,821 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after acquiring an additional 388,996 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 1.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after acquiring an additional 716,218 shares during the last quarter. Finally, Capital World Investors increased its holdings in shares of Visa by 0.8% in the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after acquiring an additional 193,288 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CFO Chris Suh sold 10,639 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the 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 transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company’s stock.

Visa Stock Up 1.9%

Shares of NYSE:V opened at $336.96 on Friday. The company has a market cap of $604.43 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.80 and a beta of 0.77. The firm’s 50-day simple moving average is $323.36 and its 200-day simple moving average is $324.30. 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 Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.76 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 13.09 earnings per share for the current year.

Visa declared that its board has initiated a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Visa Dividend Announcement

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

Key Stories Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa launched Visa Destinations, a global travel platform now live in 10 major markets, designed to engage cardholders earlier in the travel journey and deepen use of Visa’s network through curated experiences and exclusive access. Visa Redefines Its Role in Travel With the Global Launch of Visa Destinations
• Positive Sentiment: Visa expanded Visa Cloud Connect with Mintoak and Thredd in Asia Pacific, which could help fintechs and banks issue cards faster and broaden Visa’s reach in merchant SaaS and cloud-based issuing. Visa (V), Mintoak Partner to Expand Merchant SaaS Offerings Across Asia Pacific
• Positive Sentiment: Analysts are highlighting Visa’s new travel push and international expansion efforts as potential future growth drivers, reinforcing the view that Visa can keep monetizing cross-border spending and travel-related activity. Can Visa’s New Travel Play Become Its Next Growth Driver?
• Neutral Sentiment: Several recent write-ups on Visa’s travel and partner initiatives are largely descriptive, but they underscore investor focus on whether these new products can meaningfully add to growth over time. Visa Explores Travel Planning Space With Visa Destinations
• Neutral Sentiment: One opinion piece argued Visa could be vulnerable to payment disruption, but it did not include new fundamental data and appears to be more of a long-term risk discussion than a near-term catalyst. Visa: May Be Next On The Disruption Hit List

Analyst Ratings Changes

Several analysts recently commented on V shares. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price target on shares of Visa in a research report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and set a $403.00 price objective (up from $391.00) on shares of Visa in a research report on Wednesday, April 29th. Truist Financial set a $371.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Citigroup reduced their target price on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings cut shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, April 16th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $387.78.

About Visa

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.