Capital Investment Advisors LLC grew its position in Visa Inc. (NYSE:V – Free Report) by 10.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,279 shares of the credit-card processor’s stock after purchasing an additional 5,467 shares during the quarter. Capital Investment Advisors LLC’s holdings in Visa were worth $19,982,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of V. Nuveen LLC bought a new position in Visa in the 1st quarter worth $3,518,533,000. Vanguard Group Inc. raised its holdings in Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the period. Wellington Management Group LLP raised its holdings in Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares during the period. MUFG Securities EMEA plc bought a new position in Visa in the 1st quarter worth $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock worth $5,003,569,000 after acquiring an additional 955,392 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several brokerages recently commented on V. Truist Financial dropped their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a report on Thursday, July 17th. Barclays reiterated an “overweight” rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. UBS Group reiterated a “buy” rating and issued a $415.00 target price (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. Finally, Raymond James Financial restated an “outperform” rating on shares of Visa in a report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $385.96.
Insider Transactions at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. The trade was a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
Visa Stock Down 0.5%
V opened at $345.97 on Friday. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $343.92 and its two-hundred day moving average price is $346.60. The company has a market capitalization of $634.09 billion, a P/E ratio of 33.79, a P/E/G ratio of 2.06 and a beta of 0.90.
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s payout ratio is presently 23.05%.
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.
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