Cvfg LLC Acquires 3,482 Shares of Visa Inc. $V

Cvfg LLC increased its stake in shares of Visa Inc. (NYSE:VFree Report) by 157.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,691 shares of the credit-card processor’s stock after purchasing an additional 3,482 shares during the quarter. Cvfg LLC’s holdings in Visa were worth $1,720,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Saxon Interests Inc. increased its position in Visa by 82.8% in the 1st quarter. Saxon Interests Inc. now owns 4,994 shares of the credit-card processor’s stock valued at $1,509,000 after acquiring an additional 2,262 shares during the period. Golden Road Advisors LLC grew its position in shares of Visa by 11.8% during the 1st quarter. Golden Road Advisors LLC now owns 1,004 shares of the credit-card processor’s stock worth $303,000 after buying an additional 106 shares during the period. Childress Capital Advisors LLC increased its stake in Visa by 5.3% in the first quarter. Childress Capital Advisors LLC now owns 7,563 shares of the credit-card processor’s stock valued at $2,286,000 after purchasing an additional 379 shares in the last quarter. Jericho Financial LLP increased its holdings in shares of Visa by 8.9% during the first quarter. Jericho Financial LLP now owns 19,133 shares of the credit-card processor’s stock valued at $5,783,000 after acquiring an additional 1,565 shares in the last quarter. Finally, Flatrock Wealth Partners LLC bought a new position in shares of Visa in the first quarter valued at $596,000. 82.15% of the stock is owned by institutional investors and hedge funds.

More Visa News

Here are the key news stories impacting Visa this week:

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 shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa stock in a transaction 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 directly 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 75,581 shares of company stock valued at $25,627,975 in the last 90 days. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on V. Barclays started coverage on Visa in a research note on Tuesday. They set an “overweight” rating and a $420.00 price objective on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Morgan Stanley restated an “overweight” rating and issued a $415.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Piper Sandler initiated coverage on shares of Visa in a research report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price objective on the stock. Finally, Truist Financial set a $371.00 price target on Visa and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Six analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $397.91.

Get Our Latest Stock Analysis on Visa

Visa Stock Down 1.3%

Shares of Visa stock opened at $347.66 on Thursday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02. The company has a market cap of $623.62 billion, a P/E ratio of 30.28, a PEG ratio of 1.88 and a beta of 0.75. The company’s fifty day simple moving average is $329.75 and its two-hundred day simple moving average is $324.89. 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 (NYSE:VGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. During the same period last year, the business posted $2.76 earnings per share. Visa’s quarterly revenue was up 17.1% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 13.1 EPS for the current year.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors 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 annualized dividend and a yield of 0.8%. Visa’s payout ratio is presently 23.34%.

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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