Visa Inc. (NYSE:V) Shares Bought by Primecap Management Co. CA

Primecap Management Co. CA lifted its position in shares of Visa Inc. (NYSE:V) by 0.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 4,046,151 shares of the credit-card processor’s stock after acquiring an additional 5,820 shares during the quarter. Primecap Management Co. CA’s holdings in Visa were worth $1,053,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Founders Financial Alliance LLC increased its holdings in Visa by 4.9% in the 4th quarter. Founders Financial Alliance LLC now owns 5,715 shares of the credit-card processor’s stock valued at $1,488,000 after purchasing an additional 268 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Visa by 3.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 731,454 shares of the credit-card processor’s stock worth $190,434,000 after acquiring an additional 27,415 shares in the last quarter. Nixon Peabody Trust Co. raised its stake in Visa by 38.5% during the 4th quarter. Nixon Peabody Trust Co. now owns 2,994 shares of the credit-card processor’s stock worth $779,000 after acquiring an additional 832 shares in the last quarter. Skopos Labs Inc. acquired a new stake in Visa during the 4th quarter worth $2,780,000. Finally, Congress Wealth Management LLC DE increased its stake in Visa by 4.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 127,950 shares of the credit-card processor’s stock valued at $33,312,000 after purchasing an additional 5,351 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.1 %

NYSE V traded up $0.26 during trading hours on Friday, reaching $274.49. 4,316,397 shares of the company traded hands, compared to its average volume of 6,322,635. Visa Inc. has a 12 month low of $216.14 and a 12 month high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $502.03 billion, a PE ratio of 30.67, a PEG ratio of 1.89 and a beta of 0.95. The company has a 50 day moving average of $276.70 and a two-hundred day moving average of $269.71.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The firm had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the firm posted $2.09 EPS. The firm’s revenue was up 9.9% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be given a $0.52 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 23.24%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of the sale, the insider now directly owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,402 shares of company stock worth $9,559,382. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wedbush boosted their price target on shares of Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Piper Sandler initiated coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 price target on the stock. Macquarie upped their price objective on shares of Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Raymond James upped their price target on shares of Visa from $287.00 to $311.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Finally, Mizuho upped their price target on shares of Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and a consensus target price of $303.76.

Visa Company Profile

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.