Visa Inc. (NYSE:V) Shares Bought by Breakwater Capital Group

Breakwater Capital Group boosted its position in shares of Visa Inc. (NYSE:V) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,107 shares of the credit-card processor’s stock after buying an additional 255 shares during the period. Breakwater Capital Group’s holdings in Visa were worth $867,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Capital International Investors increased its holdings in shares of Visa by 2.7% in the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after purchasing an additional 596,950 shares during the period. Capital World Investors increased its holdings in shares of Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Norges Bank acquired a new position in Visa during the fourth quarter worth $3,895,015,000. Ameriprise Financial Inc. grew its holdings in Visa by 2.7% during the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after acquiring an additional 374,489 shares during the period. Finally, Jennison Associates LLC grew its holdings in Visa by 0.7% during the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold 34,402 shares of company stock worth $9,559,382 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Visa Stock Down 1.5 %

Shares of V stock traded down $4.12 during trading hours on Friday, hitting $262.47. 13,957,270 shares of the company were exchanged, compared to its average volume of 8,762,266. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. The stock has a market capitalization of $480.04 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 1.80 and a beta of 0.97. Visa Inc. has a one year low of $227.68 and a one year high of $290.96. The business’s 50-day simple moving average is $273.88 and its two-hundred day simple moving average is $273.58.

Visa (NYSE:V) last released its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion during the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Visa Inc. will post 9.94 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.79%. The ex-dividend date was Thursday, May 16th. Visa’s payout ratio is currently 23.24%.

Analyst Ratings Changes

V has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Piper Sandler initiated coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 target price on the stock. Wedbush boosted their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada boosted their target price on Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $303.56.

About Visa

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.