London & Capital Asset Management Ltd Acquires 26,614 Shares of Visa Inc. $V

London & Capital Asset Management Ltd increased its holdings in Visa Inc. (NYSE:V) by 21.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 151,643 shares of the credit-card processor’s stock after purchasing an additional 26,614 shares during the quarter. Visa accounts for about 3.7% of London & Capital Asset Management Ltd’s holdings, making the stock its 7th largest holding. London & Capital Asset Management Ltd’s holdings in Visa were worth $51,760,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of V. Sonoma Allocations LLC purchased a new stake in Visa in the 3rd quarter worth $710,000. AQR Capital Management LLC lifted its holdings in Visa by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after purchasing an additional 21,401 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its position in shares of Visa by 5.9% in the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after purchasing an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Visa by 24.1% during the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after purchasing an additional 159,906 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Trading Up 0.7%

V opened at $319.07 on Monday. The firm has a market capitalization of $579.17 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78. The company’s 50 day simple moving average is $333.00 and its two-hundred day simple moving average is $338.09. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

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

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.12% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on V. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a research note on Monday, February 2nd. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Piper Sandler set a $160.00 price target on Visa in a research note on Wednesday, January 28th. Finally, UBS Group reiterated a “buy” rating on shares of Visa in a research report on Tuesday, January 13th. Seven equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and an average price target of $391.43.

Visa 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.