Resources Management Corp CT ADV Increases Stake in Visa Inc. $V

Resources Management Corp CT ADV increased its position in shares of Visa Inc. (NYSE:VFree Report) by 12,598.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,238 shares of the credit-card processor’s stock after buying an additional 7,181 shares during the period. Resources Management Corp CT ADV’s holdings in Visa were worth $2,539,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in V. Brighton Jones LLC increased its stake in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after buying an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its stake in shares of Visa by 4.6% during the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after buying an additional 477 shares during the period. Matrix Asset Advisors Inc. NY increased its stake in shares of Visa by 16.9% during the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after buying an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. increased its stake in shares of Visa by 13.8% during the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after buying an additional 2,230 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In related news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated 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 sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction dated 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 directly owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their position. 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. Insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on V. Oppenheimer reiterated an “outperform” rating and issued a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 target price on shares of Visa in a research note on Wednesday, April 29th. UBS Group lifted their target price on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Finally, Bank of America began coverage on Visa in a research note on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price on the stock. Six 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 stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $387.78.

View Our Latest Analysis on V

Visa News Roundup

Here are the key news stories impacting Visa this week:

Visa Price Performance

Shares of V stock opened at $324.25 on Tuesday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $360.22. The firm has a market capitalization of $581.62 billion, a price-to-earnings ratio of 28.24, a PEG ratio of 1.72 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 stock’s 50-day simple moving average is $319.16 and its 200-day simple moving average is $324.30.

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

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

Visa Announces Dividend

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

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

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Institutional Ownership by Quarter for Visa (NYSE:V)

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