Visa Inc. (NYSE:V) Shares Bought by Flputnam Investment Management Co.

Posted by Defense World Staff on Jul 17th, 2023

Flputnam Investment Management Co. boosted its stake in shares of Visa Inc. (NYSE:V – Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 175,574 shares of the credit-card processor’s stock after purchasing an additional 6,835 shares during the period. Visa makes up approximately 1.3% of Flputnam Investment Management Co.’s portfolio, making the stock its 14th biggest holding. Flputnam Investment Management Co.’s holdings in Visa were worth $39,585,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Steigerwald Gordon & Koch Inc. boosted its holdings in Visa by 1.2% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 77,046 shares of the credit-card processor’s stock worth $17,371,000 after buying an additional 951 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Visa by 1.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock valued at $166,188,000 after acquiring an additional 9,534 shares during the period. Occidental Asset Management LLC increased its stake in shares of Visa by 4.3% in the 4th quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock valued at $2,326,000 after purchasing an additional 465 shares in the last quarter. Private Trust Co. NA raised its holdings in Visa by 1.7% in the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after purchasing an additional 140 shares during the period. Finally, Foster Group Inc. purchased a new position in Visa during the fourth quarter worth approximately $210,000. 84.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the sale, the chairman now owns 154,854 shares of the company’s stock, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the completion of the transaction, the chairman now directly owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the sale, the insider now directly owns 26,674 shares in the company, valued at approximately $6,203,038.70. The disclosure for this sale can be found here. Insiders sold a total of 165,727 shares of company stock worth $38,891,141 over the last three months. Insiders own 0.21% of the company’s stock.

Visa Stock Down 0.1 %

V stock opened at $243.16 on Monday. Visa Inc. has a one year low of $174.60 and a one year high of $244.74. The firm has a market cap of $455.52 billion, a PE ratio of 32.51, a PEG ratio of 1.86 and a beta of 0.97. The firm’s 50 day moving average price is $230.38 and its 200-day moving average price is $226.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.

Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.79 earnings per share. On average, equities research analysts anticipate that Visa Inc. will post 8.59 EPS for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.74%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is presently 24.06%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on V. Oppenheimer upped their target price on Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Robert W. Baird increased their price objective on shares of Visa from $272.00 to $284.00 in a report on Wednesday, April 26th. BMO Capital Markets boosted their target price on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Barclays raised their price target on shares of Visa from $270.00 to $272.00 in a research note on Monday, May 1st. Finally, Raymond James boosted their price objective on Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $262.52.

Visa Profile

(Free Report)

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.