Geode Capital Management LLC Acquires 1,067,631 Shares of Visa Inc. $V

Geode Capital Management LLC grew its position in Visa Inc. (NYSE:V) by 2.5% during the second quarter, HoldingsChannel reports. The firm owned 43,096,802 shares of the credit-card processor’s stock after buying an additional 1,067,631 shares during the quarter. Visa comprises approximately 1.1% of Geode Capital Management LLC’s holdings, making the stock its 12th biggest position. Geode Capital Management LLC’s holdings in Visa were worth $15,253,245,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of V. Nuveen LLC bought a new stake in shares of Visa during the first quarter valued at approximately $3,518,533,000. Vanguard Group Inc. grew its position in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the period. Wellington Management Group LLP increased its stake 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 valued at $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Visa during the 1st quarter worth approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Visa by 7.2% in the first 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 valued at $5,003,569,000 after acquiring an additional 955,392 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,117. This represents a 95.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction dated 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 directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,897 shares of company stock worth $8,164,561 over the last three months. 0.13% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on V shares. KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research report on Wednesday, October 22nd. Macquarie lowered their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a research note on Wednesday, October 29th. Truist Financial cut their price target 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. Morgan Stanley set a $398.00 target price on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $400.00.

Visa Stock Performance

NYSE V opened at $339.00 on Thursday. The company’s 50 day simple moving average is $342.72 and its two-hundred day simple moving average is $348.78. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock has a market capitalization of $621.32 billion, a PE ratio of 33.20, a P/E/G ratio of 2.05 and a beta of 0.87.

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

Visa Increases Dividend

The business also recently announced 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. The ex-dividend date is Wednesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is presently 23.11%.

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.