Los Angeles Capital Management LLC Raises Holdings in Visa Inc. $V

Los Angeles Capital Management LLC boosted its stake in Visa Inc. (NYSE:V) by 0.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,322,984 shares of the credit-card processor’s stock after buying an additional 4,122 shares during the period. Visa accounts for 1.8% of Los Angeles Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Los Angeles Capital Management LLC owned about 0.07% of Visa worth $469,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Prospera Financial Services Inc lifted its stake in shares of Visa by 32.3% in the 2nd quarter. Prospera Financial Services Inc now owns 89,364 shares of the credit-card processor’s stock worth $31,748,000 after acquiring an additional 21,837 shares during the period. AGF Management Ltd. increased its stake in shares of Visa by 25.0% during the second quarter. AGF Management Ltd. now owns 529,162 shares of the credit-card processor’s stock valued at $187,879,000 after acquiring an additional 105,817 shares during the period. Decker Retirement Planning Inc. bought a new stake in Visa during the second quarter worth approximately $41,000. True Wealth Design LLC lifted its position in Visa by 29.7% in the second quarter. True Wealth Design LLC now owns 153 shares of the credit-card processor’s stock worth $54,000 after purchasing an additional 35 shares during the period. Finally, AE Wealth Management LLC boosted its stake in Visa by 24.8% during the 2nd quarter. AE Wealth Management LLC now owns 223,253 shares of the credit-card processor’s stock valued at $79,267,000 after purchasing an additional 44,317 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.3%

Shares of V opened at $335.91 on Friday. The business’s 50-day moving average price is $343.52 and its 200 day moving average price is $348.74. The company has a current ratio of 1.08, a quick ratio of 1.12 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $615.66 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same period in the prior year, the firm earned $2.71 earnings per share. The business’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is presently 23.11%.

Analyst Ratings Changes

A number of research firms have recently commented on V. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Barclays reissued an “overweight” rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, UBS Group set a $425.00 target price on shares of Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $400.00.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction on 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. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 900 shares of Visa stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This represents a 26.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock worth $8,164,561 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa 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.