Tempo Wealth LLC Takes $2.74 Million Position in Visa Inc. $V

Tempo Wealth LLC acquired a new stake in Visa Inc. (NYSE:VFree Report) during the fourth quarter, Holdings Channel reports. The fund acquired 7,823 shares of the credit-card processor’s stock, valued at approximately $2,744,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Visa in the 4th quarter valued at $5,877,738,000. Cardano Risk Management B.V. increased its position in shares of Visa by 867.6% during the 4th quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock worth $2,880,595,000 after purchasing an additional 7,364,762 shares during the last quarter. J. Stern & Co. LLP increased its position in shares of Visa by 12,497.1% during the 4th quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock worth $1,184,712,000 after purchasing an additional 3,351,223 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Visa by 48.2% in the 4th quarter. Victory Capital Management Inc. now owns 6,508,089 shares of the credit-card processor’s stock valued at $2,282,472,000 after buying an additional 2,116,463 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in Visa by 110.4% in the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the chief financial officer directly owned 9,872 shares in the company, valued at approximately $3,206,524.32. This 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 Price Performance

V stock opened at $327.67 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $587.76 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.77. The business’s 50-day moving average is $321.23 and its two-hundred day moving average is $324.24. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $359.66.

Visa (NYSE:VGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping 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 business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same period in the previous year, the company posted $2.76 earnings per share. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current fiscal year.

Visa announced that its board has authorized a share buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Tuesday, May 12th were paid a $0.67 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is currently 23.34%.

Analyst Ratings Changes

V has been the subject of several research analyst reports. Oppenheimer reaffirmed an “outperform” rating and set a $403.00 target price (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. Truist Financial set a $371.00 target price on shares of Visa and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, BMO Capital Markets began coverage on Visa in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $365.00 target price on the stock. Six investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $387.78.

View Our Latest Stock Analysis on Visa

Key Stories Impacting Visa

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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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