Robinhood Asset Management LLC Acquires New Holdings in Visa Inc. $V

Robinhood Asset Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 33,621 shares of the credit-card processor’s stock, valued at approximately $11,535,000.

Other institutional investors also recently modified their holdings of the company. G&S Capital LLC boosted its holdings in shares of Visa by 4.0% during the 2nd quarter. G&S Capital LLC now owns 761 shares of the credit-card processor’s stock worth $261,000 after buying an additional 29 shares during the period. Keating Financial Advisory Services Inc. raised its holdings in Visa by 0.9% in the 2nd quarter. Keating Financial Advisory Services Inc. now owns 3,189 shares of the credit-card processor’s stock worth $1,094,000 after acquiring an additional 29 shares during the period. NerdWallet Wealth Partners LLC raised its holdings in Visa by 4.5% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 695 shares of the credit-card processor’s stock worth $239,000 after acquiring an additional 30 shares during the period. Planned Solutions Inc. lifted its position in Visa by 2.0% during the 4th quarter. Planned Solutions Inc. now owns 1,598 shares of the credit-card processor’s stock worth $560,000 after acquiring an additional 31 shares during the last quarter. Finally, Frederick Financial Consultants LLC boosted its holdings in Visa by 2.0% during the fourth quarter. Frederick Financial Consultants LLC now owns 1,598 shares of the credit-card processor’s stock valued at $560,000 after acquiring an additional 31 shares during the period. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on V shares. Truist Financial set a $406.00 price target on Visa and gave the company a “buy” rating in a research report on Wednesday, August 5th. UBS Group reissued a “buy” rating and set a $420.00 price objective (up from $410.00) on shares of Visa in a research report on Wednesday, July 29th. Clear Str upgraded Visa to a “strong-buy” rating in a research note on Thursday, July 16th. BNP Paribas Exane raised Visa to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $412.00 target price (up from $395.00) on shares of Visa in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $413.58.

Insider Transactions at Visa

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider owned 49,662 shares of the company’s stock, valued at $18,125,140.14. The trade was a 53.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 90,759 shares of company stock valued at $32,375,779. Company insiders own 0.12% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $371.09 on Friday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $373.97. The company has a market capitalization of $662.18 billion, a P/E ratio of 31.56, a P/E/G ratio of 1.96 and a beta of 0.74. The stock has a 50 day moving average of $353.73 and a two-hundred day moving average of $329.64. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.98 earnings per share. As a group, equities analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa’s dividend payout ratio is currently 22.79%.

Visa declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Visa 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.