Flputnam Investment Management Co. Acquires 2,630 Shares of Visa Inc. $V

by · The Cerbat Gem

Flputnam Investment Management Co. raised its holdings in Visa Inc. (NYSE:V – Free Report) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,101 shares of the credit-card processor’s stock after buying an additional 2,630 shares during the period. Visa comprises about 1.4% of Flputnam Investment Management Co.’s holdings, making the stock its 13th largest position. Flputnam Investment Management Co.’s holdings in Visa were worth $95,779,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in V. Brighton Jones LLC lifted its stake in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after buying an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. raised its holdings in shares of Visa by 4.6% in the first quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock valued at $3,834,000 after purchasing an additional 477 shares during the last quarter. Matrix Asset Advisors Inc. NY raised its holdings in shares of Visa by 16.9% in the second quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock valued at $402,000 after purchasing an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. raised its holdings in shares of Visa by 13.8% in the second quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock valued at $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Visa in a report on Tuesday, March 31st. They issued a “buy” rating and a $387.00 target price for the company. Bank of America assumed coverage on shares of Visa in a report on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price for the company. Rothschild & Co Redburn set a $385.00 target price on shares of Visa in a report on Wednesday, January 28th. Freedom Capital upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Evercore set a $350.00 target price on shares of Visa in a report on Wednesday, April 29th. Six research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $386.70.

Read Our Latest Analysis on Visa

Visa Stock Performance

NYSE V opened at $327.17 on Wednesday. Visa Inc. has a 52-week low of $293.89 and a 52-week high of $375.51. The company has a 50-day simple moving average of $313.63 and a 200 day simple moving average of $325.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market capitalization of $586.87 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the company posted $2.76 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. On average, research analysts predict that Visa Inc. will post 13.09 EPS for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be issued 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 is Tuesday, May 12th. Visa’s dividend payout ratio (DPR) is 23.34%.

Visa declared that its board has authorized a stock repurchase 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 buy up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction dated 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 owned 9,872 shares in the company, valued at approximately $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 42,744 shares of company stock worth $14,356,010. Insiders own 0.12% of the company’s stock.

About Visa

(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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