Arvest Bank Trust Division Acquires 9,475 Shares of Visa Inc. $V

Arvest Bank Trust Division increased its stake in shares of Visa Inc. (NYSE:V) by 620.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,001 shares of the credit-card processor’s stock after purchasing an additional 9,475 shares during the period. Arvest Bank Trust Division’s holdings in Visa were worth $3,325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Blacksheep Fund Management Ltd increased its position in shares of Visa by 108.7% in the first quarter. Blacksheep Fund Management Ltd now owns 100,710 shares of the credit-card processor’s stock worth $30,439,000 after purchasing an additional 52,460 shares during the last quarter. Alesco Advisors LLC An ESL Co grew its holdings in shares of Visa by 139.7% in the first quarter. Alesco Advisors LLC An ESL Co now owns 8,013 shares of the credit-card processor’s stock worth $2,422,000 after purchasing an additional 4,670 shares during the last quarter. Acumen Wealth Advisors LLC raised its stake in shares of Visa by 8.6% during the first quarter. Acumen Wealth Advisors LLC now owns 17,467 shares of the credit-card processor’s stock valued at $5,279,000 after acquiring an additional 1,384 shares during the last quarter. Saturna Capital Corp lifted its stake in Visa by 36.5% in the first quarter. Saturna Capital Corp now owns 1,869 shares of the credit-card processor’s stock worth $565,000 after acquiring an additional 500 shares during the period. Finally, Investidor Profissional Gestao de Recursos Ltda. increased its position in shares of Visa by 57.0% during the first quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 47,995 shares of the credit-card processor’s stock valued at $14,506,000 after buying an additional 17,420 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on V. Morgan Stanley reissued an “overweight” rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets reiterated an “outperform” rating and issued a $387.00 price objective (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Raymond James Financial reissued an “outperform” rating and issued a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Loop Capital began coverage on Visa in a research note on Tuesday, March 31st. They issued a “buy” rating and a $387.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of Visa in a report on Wednesday, April 29th. Seven investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $398.36.

Insider Activity

In related news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total transaction of $729,720.00. Following the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. This trade 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. In the last three months, insiders have sold 75,581 shares of company stock worth $25,627,975. 0.12% of the stock is currently owned by company insiders.

Visa Stock Performance

Shares of Visa stock opened at $355.94 on Wednesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $365.14. The stock’s fifty day moving average is $335.74 and its two-hundred day moving average is $325.08. The company has a market capitalization of $638.47 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.92 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.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The company’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 firm earned $2.76 EPS. As a group, analysts expect that Visa Inc. will post 13.13 earnings per share for the current year.

Visa Dividend Announcement

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

Visa declared that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding 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 generally an indication that the company’s management believes its shares are undervalued.

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.