Holderness Investments Co. Raises Stake in Visa Inc. (NYSE:V)

Holderness Investments Co. raised its position in shares of Visa Inc. (NYSE:V) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,413 shares of the credit-card processor’s stock after purchasing an additional 250 shares during the quarter. Holderness Investments Co.’s holdings in Visa were worth $2,948,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. American Money Management LLC lifted its holdings in shares of Visa by 0.5% in the first quarter. American Money Management LLC now owns 34,046 shares of the credit-card processor’s stock worth $11,932,000 after buying an additional 179 shares in the last quarter. Boston Partners lifted its holdings in shares of Visa by 0.9% in the first quarter. Boston Partners now owns 524,762 shares of the credit-card processor’s stock worth $183,837,000 after buying an additional 4,639 shares in the last quarter. E Fund Management Co. Ltd. lifted its holdings in shares of Visa by 43.2% in the first quarter. E Fund Management Co. Ltd. now owns 26,601 shares of the credit-card processor’s stock worth $9,323,000 after buying an additional 8,021 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its holdings in shares of Visa by 26.7% in the first quarter. Financial Network Wealth Advisors LLC now owns 1,035 shares of the credit-card processor’s stock worth $363,000 after buying an additional 218 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Visa by 5.1% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 176,940 shares of the credit-card processor’s stock worth $62,010,000 after buying an additional 8,520 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on V shares. The Goldman Sachs Group started coverage on shares of Visa in a report on Monday, June 2nd. They issued a “neutral” rating on the stock. Truist Financial lowered their target price 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. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Oppenheimer upped their price target on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a research note on Wednesday, July 2nd. Finally, Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $380.84.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by insiders.

Visa Trading Up 1.8%

NYSE V opened at $342.66 on Thursday. The company’s 50-day moving average price is $351.11 and its 200-day moving average price is $347.19. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $628.02 billion, a PE ratio of 33.46, a PEG ratio of 2.24 and a beta of 0.94. Visa Inc. has a 12 month low of $258.74 and a 12 month high of $375.51.

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

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa’s dividend payout ratio is 23.05%.

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.