NEOS Investment Management LLC Buys 58,408 Shares of Visa Inc. $V

NEOS Investment Management LLC raised its stake in shares of Visa Inc. (NYSE:V) by 40.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,275 shares of the credit-card processor’s stock after purchasing an additional 58,408 shares during the quarter. NEOS Investment Management LLC’s holdings in Visa were worth $69,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Norges Bank bought a new stake in shares of Visa during the 2nd quarter worth $7,034,939,000. TCI Fund Management Ltd. raised its position in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC raised its position in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after purchasing an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. lifted its stake in Visa by 0.9% during the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $314.13 on Tuesday. The company has a market capitalization of $570.19 billion, a P/E ratio of 29.47, a PEG ratio of 1.80 and a beta of 0.79. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $337.74 and a two-hundred day moving average price of $339.51.

Visa (NYSE:V) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm earned $2.75 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

Analyst Ratings Changes

V has been the topic of a number of research reports. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Raymond James Financial reiterated an “outperform” rating and set a $408.00 price target (up from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 price target on shares of Visa in a research note on Friday, January 30th. Piper Sandler set a $160.00 price objective on shares of Visa in a research note on Wednesday, January 28th. Finally, Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $392.21.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.