Darwin Wealth Management LLC Acquires 1,762 Shares of Visa Inc. $V

Darwin Wealth Management LLC lifted its holdings in shares of Visa Inc. (NYSE:V) by 29.9% during the first quarter, HoldingsChannel reports. The firm owned 7,646 shares of the credit-card processor’s stock after purchasing an additional 1,762 shares during the quarter. Darwin Wealth Management LLC’s holdings in Visa were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Visa by 0.7% during 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 acquiring an additional 1,054,343 shares during the period. State Street Corp lifted its stake in Visa by 0.8% in the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock valued at $29,038,140,000 after purchasing an additional 626,821 shares during the last quarter. Geode Capital Management LLC grew its holdings in Visa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock valued at $15,411,395,000 after purchasing an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD increased its position in Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after buying an additional 716,218 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Visa by 1.7% in the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock valued at $8,359,291,000 after buying an additional 398,459 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of V stock traded up $0.85 on Friday, reaching $349.05. The company’s stock had a trading volume of 4,701,656 shares, compared to its average volume of 8,985,494. The company has a market capitalization of $626.12 billion, a P/E ratio of 30.41, a PEG ratio of 1.86 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. The stock’s 50 day simple moving average is $330.81 and its 200-day simple moving average is $325.05. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.02.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.76 earnings per share. As a group, equities analysts predict that Visa Inc. will post 13.1 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.34%.

Visa declared that its board has authorized a share repurchase plan on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

V has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Evercore set a $350.00 price objective on Visa in a research note on Wednesday, April 29th. Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, July 6th. Finally, Robert W. Baird set a $412.00 target price on Visa and gave the stock an “outperform” rating in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of “Buy” and a consensus target price of $397.91.

Insider Transactions at Visa

In related news, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was 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 of the company’s stock, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 75,581 shares of company stock worth $25,627,975. Company insiders own 0.12% of the company’s stock.

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.