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

Posted by Steven Smith on Oct 17th, 2024

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 Price Performance

V stock traded up $2.24 during trading on Thursday, reaching $289.76. 4,610,022 shares of the company were exchanged, compared to its average volume of 7,105,654. Visa Inc. has a 52-week low of $228.03 and a 52-week high of $293.07. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market cap of $529.95 billion, a P/E ratio of 32.46, a PEG ratio of 1.94 and a beta of 0.96. The stock’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 posted its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.16 EPS. As a group, analysts predict that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in V. Livelsberger Financial Advisory acquired a new position in shares of Visa during the 4th quarter valued at $25,000. Westend Capital Management LLC bought a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC lifted its position in Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC bought a new stake in Visa during the second quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on V. Evercore ISI reduced their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Compass Point assumed coverage on Visa in a research report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. BNP Paribas upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Bank of America boosted their target price on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group dropped their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $314.19.

Get Our Latest Report on V

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.