Rep. Marjorie Taylor Greene Buys Visa Inc. (NYSE:V) Shares

by · The Cerbat Gem

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Visa Inc. (NYSE:V). In a filing disclosed on October 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Visa stock on October 4th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

  • Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of Lam Research (NASDAQ:LRCX) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of JPMorgan Chase & Co. (NYSE:JPM) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of Applied Materials (NASDAQ:AMAT) on 10/4/2024.
  • Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 9/20/2024.
  • Purchased $1,001 – $15,000 in shares of Cardinal Health (NYSE:CAH) on 9/20/2024.
  • Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 9/20/2024.

Visa Stock Up 0.8 %

V traded up $2.24 during trading on Thursday, hitting $289.76. The company had a trading volume of 4,610,022 shares, compared to its average volume of 7,105,654. The company has a market capitalization of $529.95 billion, a PE ratio of 32.46, a PEG ratio of 1.94 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a one year low of $228.03 and a one year high of $293.07. The firm’s 50-day moving average price is $275.69 and its 200 day moving average price is $272.74.

Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same quarter last year, the firm earned $2.16 EPS. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. William Blair raised shares of Visa to a “strong-buy” rating in a report on Tuesday, July 23rd. Morgan Stanley reiterated an “overweight” rating and set a $322.00 price target on shares of Visa in a report on Wednesday, September 25th. Finally, Oppenheimer began coverage on Visa in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $318.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $314.19.

Read Our Latest Research Report on V

Institutional Trading of Visa

A number of hedge funds and other institutional investors have recently modified their holdings of V. SG Americas Securities LLC boosted its position in shares of Visa by 4,412.3% during the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after purchasing an additional 4,166,905 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new position in shares of Visa during the 1st quarter valued at $511,321,000. GQG Partners LLC boosted its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its stake in Visa by 26,951.9% during the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after acquiring an additional 1,582,074 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

About Visa

(Get Free Report)

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.

See Also