Barbara Oil Co. Sells 3,600 Shares of Visa Inc. $V

Barbara Oil Co. reduced its stake in Visa Inc. (NYSE:V) by 51.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,350 shares of the credit-card processor’s stock after selling 3,600 shares during the quarter. Barbara Oil Co.’s holdings in Visa were worth $1,013,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in V. Invariant Investment Management acquired a new position in Visa during the 4th quarter worth $969,000. Nixon Peabody Trust Co. boosted its position in Visa by 58.1% in the 1st quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor’s stock valued at $1,270,000 after buying an additional 1,543 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Visa by 0.7% in the 4th 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 period. Savvy Advisors Inc. increased its stake in shares of Visa by 30.1% in the 4th quarter. Savvy Advisors Inc. now owns 28,922 shares of the credit-card processor’s stock valued at $10,143,000 after buying an additional 6,688 shares during the period. Finally, Wealth Enhancement Trust Services Inc. bought a new stake in shares of Visa during the fourth quarter worth $15,966,000. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In related 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 value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 10,490 shares of Visa stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $343.99, for a total transaction of $3,608,455.10. Following the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,219,704.26. The trade was a 40.87% 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 have sold 75,581 shares of company stock worth $25,627,975 in the last ninety days. Company insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Barclays started coverage on shares of Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 target price on the stock. Sanford C. Bernstein reiterated an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. Citigroup lowered their price target on shares of Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, BNP Paribas Exane raised shares of Visa to a “strong-buy” rating in a research note on Tuesday. Eight analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $398.36.

Visa Stock Down 0.8%

Shares of Visa stock opened at $353.10 on Thursday. The business has a fifty day simple moving average of $336.39 and a 200 day simple moving average of $325.10. The stock has a market cap of $633.38 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75. 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 12 month low of $293.89 and a 12 month high of $365.14.

Visa (NYSE:V) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same quarter in the prior year, the firm posted $2.76 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Research analysts predict that Visa Inc. will post 13.13 EPS for the current year.

Visa declared that its Board of Directors has initiated 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 buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Visa Dividend Announcement

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 $0.67 dividend. 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 is 23.34%.

Visa Company Profile

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.