Visa Inc. $V Shares Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC lifted its stake in shares of Visa Inc. (NYSE:V) by 10.7% during the 4th quarter, HoldingsChannel reports. The firm owned 30,762 shares of the credit-card processor’s stock after purchasing an additional 2,971 shares during the quarter. Meridian Wealth Management LLC’s holdings in Visa were worth $10,789,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Clayton Financial Group LLC grew its holdings 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 purchasing an additional 58 shares during the period. PayPay Securities Corp grew its holdings in shares of Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. purchased a new stake in shares of Visa in the fourth quarter valued at about $26,000. Parvin Asset Management LLC grew its holdings in shares of Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management purchased a new stake in shares of Visa in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.6%

Shares of NYSE V opened at $323.99 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $581.17 billion, a PE ratio of 28.22, a PEG ratio of 1.70 and a beta of 0.78. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $375.51. The stock has a fifty day simple moving average of $310.93 and a 200-day simple moving average of $326.38.

Visa (NYSE:V) last announced its earnings results 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. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the business posted $2.76 EPS. Visa’s revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 13.08 earnings per share for the current year.

Visa declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa’s payout ratio is 23.34%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several recent analyst reports. TD Cowen reissued a “buy” rating on shares of Visa in a research note on Friday, January 30th. Citigroup cut their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, April 14th. Bank of America initiated coverage on Visa in a research note on Thursday, March 5th. They set a “buy” rating and a $410.00 target price for the company. Raymond James Financial reissued an “outperform” rating and set a $389.00 target price on shares of Visa in a research note on Wednesday, April 29th. Finally, Daiwa Securities Group raised Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Six investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $387.25.

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.