Visa Inc. $V Shares Purchased by Meyer Handelman Co.

Meyer Handelman Co. increased its position in shares of Visa Inc. (NYSE:V) by 8.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 109,011 shares of the credit-card processor’s stock after purchasing an additional 8,242 shares during the quarter. Meyer Handelman Co.’s holdings in Visa were worth $32,947,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in V. Clayton Financial Group LLC raised its position 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 buying an additional 58 shares during the last quarter. PayPay Securities Corp boosted its position in Visa by 102.7% during the fourth 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. acquired a new position in Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC grew its stake in Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new stake in shares of Visa in the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on V. Raymond James Financial restated an “outperform” rating and set a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price target on the stock. Citigroup lowered their price target on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, April 14th. 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. Finally, Evercore set a $350.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $387.78.

Trending Headlines about 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

Insider Activity

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 of the company’s stock, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 that occurred on Tuesday, May 12th. The shares were 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. This trade represents a 51.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by insiders.

Visa Trading Up 1.9%

Shares of NYSE V opened at $336.96 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a one year low of $293.89 and a one year high of $359.66. The business has a 50-day moving average price of $323.36 and a two-hundred day moving average price of $324.30. The firm has a market capitalization of $604.43 billion, a PE ratio of 29.35, a PEG ratio of 1.80 and a beta of 0.77.

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

Visa Dividend Announcement

The company 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. 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 dividend payout ratio (DPR) is 23.34%.

Visa announced that its Board of Directors has authorized a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.