Lisa Cook sues Trump over firing attempt, emergency hearing set
In a recent series of transactions, Visa Inc .’s (NYSE:V) Chief Executive Officer, Ryan McInerney, sold 8,620 shares of Class A Common Stock, generating a total of approximately $3.02 million. The shares were sold at a price of $350.44 each, as disclosed in a Form 4 filing with the Securities and Exchange Commission. The transaction comes as Visa, with its impressive $663 billion market capitalization and "GREAT" financial health score according to InvestingPro, trades near its 52-week high of $366.54.
On the same day, McInerney also exercised options to acquire 8,620 shares at a price of $80.82 per share. This transaction was conducted under a Rule 10b5-1 trading plan, which McInerney adopted on April 25, 2024. Following these transactions, McInerney holds 537 shares directly, while the Ryan and Angela McInerney Trust owns an additional 247,326 shares indirectly. The company has demonstrated strong performance with a 25.5% return over the past six months and maintains a P/E ratio of 32.3.
These transactions reflect McInerney’s ongoing management of his equity stake in Visa, a company he has been leading as CEO. InvestingPro analysis shows Visa has maintained dividend payments for 18 consecutive years, with 12 analysts recently revising earnings estimates upward. For detailed insights and more exclusive tips about Visa’s performance, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Visa is making headlines with several key developments. The company has made a bold move by offering Apple (NASDAQ:AAPL) approximately $100 million in a bid to replace Mastercard (NYSE:MA) as the network for the Apple credit card, as reported by The Wall Street Journal. This comes amid Goldman Sachs’ plans to exit the consumer lending sector, prompting a competitive race among leading payment networks, including American Express (NYSE:AXP), to secure a partnership with Apple. In another development, Visa is reportedly in discussions with World Network to integrate Visa card functionality into cryptocurrency wallets, a move that could expand its reach in the fintech sector.
The potential partnership aims to enable World Network wallet users to access financial services like fiat currency exchanges and stablecoin-based payments. Additionally, Visa has announced the success of its Scam Disruption department, which has prevented over $350 million in scam attempts in 2024. This initiative is part of a broader effort by Visa’s Payment Ecosystem Risk and Control unit, which blocked $40 billion in attempted fraud last year. Analysts have noted Visa’s substantial investment in anti-fraud technology, totaling over $12 billion in the past five years. Visa’s proactive approach includes collaboration with financial institutions and law enforcement to combat scams, highlighting its commitment to security in the payment ecosystem.
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