T. Rowe Price Investment Management Inc. Buys 241,619 Shares of Visa Inc. $V

T. Rowe Price Investment Management Inc. boosted its stake in shares of Visa Inc. (NYSE:VFree Report) by 6.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,845,454 shares of the credit-card processor’s stock after buying an additional 241,619 shares during the period. Visa makes up approximately 0.9% of T. Rowe Price Investment Management Inc.’s holdings, making the stock its 26th largest holding. T. Rowe Price Investment Management Inc. owned approximately 0.21% of Visa worth $1,348,640,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Chapman Financial Group LLC raised its stake in shares of Visa by 0.9% in the third quarter. Chapman Financial Group LLC now owns 3,211 shares of the credit-card processor’s stock valued at $1,096,000 after acquiring an additional 30 shares during the period. Ransom Advisory Ltd lifted its holdings in shares of Visa by 0.3% in the 4th quarter. Ransom Advisory Ltd now owns 9,447 shares of the credit-card processor’s stock worth $3,313,000 after acquiring an additional 30 shares during the last quarter. TSA Wealth Managment LLC boosted its stake in shares of Visa by 4.9% during the 3rd quarter. TSA Wealth Managment LLC now owns 659 shares of the credit-card processor’s stock worth $225,000 after purchasing an additional 31 shares during the period. Bank OZK boosted its stake in shares of Visa by 3.7% during the 3rd quarter. Bank OZK now owns 858 shares of the credit-card processor’s stock worth $293,000 after purchasing an additional 31 shares during the period. Finally, FOCUS Wealth Advisors LLC boosted its stake in shares of Visa by 0.4% during the 4th quarter. FOCUS Wealth Advisors LLC now owns 7,710 shares of the credit-card processor’s stock worth $2,704,000 after purchasing an additional 31 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Trading Down 0.8%

V stock opened at $327.67 on Friday. The company has a market capitalization of $587.76 billion, a PE ratio of 28.54, a P/E/G ratio of 1.76 and a beta of 0.77. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $359.66. The firm’s 50-day moving average is $320.85 and its 200 day moving average is $324.21. 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 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 company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.76 EPS. On average, research analysts anticipate that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

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

Visa announced that its board has authorized a stock repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in 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 usually a sign that the company’s board of directors believes its stock is undervalued.

Key Visa News

Here are the key news stories impacting Visa this week:

Wall Street Analyst Weigh In

A number of research firms recently weighed in on V. Bank of America initiated coverage on shares of Visa in a research report on Thursday, March 5th. They issued a “buy” rating and a $410.00 price objective on the stock. Citigroup dropped their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Weiss Ratings cut Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Visa has an average rating of “Buy” and a consensus target price of $387.78.

Get Our Latest Stock Report on Visa

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 31,455 shares of the business’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 completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is currently owned by insiders.

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.

Further Reading

Institutional Ownership by Quarter for Visa (NYSE:V)

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