Ritholtz Wealth Management lifted its stake in Visa Inc. (NYSE:V – Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,879 shares of the credit-card processor’s stock after buying an additional 2,281 shares during the period. Ritholtz Wealth Management’s holdings in Visa were worth $26,547,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. XXEC Inc. boosted its holdings in Visa by 153,118.8% during the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock valued at $63,904,097,000 after acquiring an additional 186,138,883 shares during the period. State Street Corp grew its position in Visa by 0.7% during the 2nd quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock worth $28,432,626,000 after acquiring an additional 566,194 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Visa by 13.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,720,068 shares of the credit-card processor’s stock worth $5,393,398,000 after acquiring an additional 1,808,496 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Visa by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,842,842 shares of the credit-card processor’s stock worth $2,672,655,000 after purchasing an additional 316,559 shares during the period. Finally, Amundi increased its stake in Visa by 16.5% in the 2nd quarter. Amundi now owns 7,714,919 shares of the credit-card processor’s stock worth $2,646,911,000 after purchasing an additional 1,092,315 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Analyst Ratings Changes
Several analysts have weighed in on V shares. President Capital boosted their price objective on Visa from $411.00 to $474.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Robert W. Baird raised their target price on shares of Visa from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Monday, October 12th. Citigroup lifted their target price on shares of Visa from $440.00 to $490.00 and gave the stock a “buy” rating in a research note on Tuesday. Oppenheimer lifted their target price on shares of Visa from $403.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 28th. Finally, Truist Financial upped their price target on shares of Visa from $443.00 to $470.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Two research analysts have rated the stock with a Strong Buy rating and thirty-five have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $443.35.
Insider Activity at Visa
In other news, General Counsel Julie Rottenberg sold 2,028 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the transaction, the general counsel directly owned 18,404 shares of the company’s stock, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $367.87, for a total value of $2,161,236.25. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at approximately $5,582,059.38. This represents a 27.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,262 shares of company stock worth $11,195,791 over the last three months. Insiders own 0.12% of the company’s stock.
Visa Stock Up 0.6%
NYSE V opened at $425.56 on Thursday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $442.23. The stock has a market capitalization of $759.37 billion, a PE ratio of 34.51, a PEG ratio of 1.80 and a beta of 0.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.97 and a quick ratio of 0.97. The business’s 50-day moving average is $388.61 and its 200 day moving average is $346.16.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The credit-card processor reported $3.48 EPS for the quarter, beating analysts’ consensus estimates of $3.44 by $0.04. The business had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.09 billion. Visa had a return on equity of 70.50% and a net margin of 51.20%. Visa’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.98 EPS. Sell-side analysts forecast that Visa Inc. will post 15.02 earnings per share for the current year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 10th will be given a $0.78 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Visa’s previous quarterly dividend of $0.67. Visa’s dividend payout ratio is 25.30%.
Visa Company Profile
Visa Inc. operates a global payments network that connects consumers, merchants, financial institutions and governments. Its network supports the authorization, clearing and settlement of electronic payments, including transactions made in person and online. The company’s services include payment processing, fraud prevention, identity and risk management, and money-transfer solutions such as Visa Direct. Visa-branded credit, debit and prepaid cards are issued by participating financial institutions; Visa generally provides the network and related services rather than issuing cards or extending credit directly to consumers.
Featured Articles
- Five stocks we like better than Visa
- Keeping AI Cool: AAON Rides the AI Heatwave to Record Growth
- AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
- Powering Up the Moon: Redwire’s $40 Million NASA Award
- Can Constellation Energy’s Contracts Power a Stock Rebound?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
