Ninety One SA PTY Ltd Trims Stake in Visa Inc. $V

Ninety One SA PTY Ltd cut its position in shares of Visa Inc. (NYSE:V) by 27.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,694 shares of the credit-card processor’s stock after selling 23,827 shares during the quarter. Visa makes up about 3.6% of Ninety One SA PTY Ltd’s investment portfolio, making the stock its 7th largest position. Ninety One SA PTY Ltd’s holdings in Visa were worth $22,097,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Keystone Global Partners LLC bought a new position in Visa during the 1st quarter worth approximately $26,000. von Borstel & Associates Inc. bought a new position in Visa during the 1st quarter worth approximately $27,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the 2nd quarter worth approximately $28,000. Cranbrook Wealth Management LLC grew its position in Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after acquiring an additional 41 shares during the last quarter. Finally, 1 North Wealth Services LLC bought a new position in Visa during the 1st quarter worth approximately $38,000. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value 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. This trade represents a 95.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of 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 disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Visa Trading Up 1.1%

V opened at $349.90 on Friday. The stock has a market cap of $641.29 billion, a PE ratio of 34.17, a PEG ratio of 2.05 and a beta of 0.90. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $343.78 and a 200-day moving average of $346.70. Visa Inc. has a 52 week low of $273.24 and a 52 week high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.42 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is presently 23.05%.

Wall Street Analysts Forecast Growth

V has been the topic of several recent research reports. Barclays restated an “overweight” rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Morgan Stanley raised their price target on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Raymond James Financial reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Finally, Erste Group Bank lowered Visa from a “buy” rating to a “hold” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $385.96.

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.