Sustainable Growth Advisers LP Decreases Stock Holdings in Visa Inc. (NYSE:V)

Sustainable Growth Advisers LP lessened its holdings in shares of Visa Inc. (NYSE:V) by 2.2% during the 1st quarter, HoldingsChannel reports. The fund owned 4,292,299 shares of the credit-card processor’s stock after selling 94,742 shares during the quarter. Visa comprises approximately 5.0% of Sustainable Growth Advisers LP’s portfolio, making the stock its 3rd biggest holding. Sustainable Growth Advisers LP’s holdings in Visa were worth $1,197,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of V. Tompkins Financial Corp boosted its stake in shares of Visa by 18.6% in the fourth quarter. Tompkins Financial Corp now owns 1,118 shares of the credit-card processor’s stock worth $291,000 after acquiring an additional 175 shares during the period. Pure Financial Advisors LLC grew its holdings in Visa by 8.7% during the 4th quarter. Pure Financial Advisors LLC now owns 4,835 shares of the credit-card processor’s stock valued at $1,259,000 after buying an additional 388 shares in the last quarter. Sunburst Financial Group LLC grew its holdings in Visa by 7.2% during the 4th quarter. Sunburst Financial Group LLC now owns 2,200 shares of the credit-card processor’s stock valued at $573,000 after buying an additional 148 shares in the last quarter. Castle Rock Wealth Management LLC raised its position in shares of Visa by 3.2% during the fourth quarter. Castle Rock Wealth Management LLC now owns 10,459 shares of the credit-card processor’s stock valued at $2,710,000 after buying an additional 328 shares during the last quarter. Finally, Curated Wealth Partners LLC lifted its holdings in shares of Visa by 4.1% in the fourth quarter. Curated Wealth Partners LLC now owns 4,069 shares of the credit-card processor’s stock worth $1,059,000 after buying an additional 160 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of several research reports. UBS Group increased their price objective on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Oppenheimer raised their price target on Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Evercore ISI decreased their price objective on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Piper Sandler assumed coverage on shares of Visa in a report on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $304.44.

Visa Trading Up 0.2 %

Shares of NYSE V traded up $0.59 during mid-day trading on Tuesday, reaching $269.04. The company had a trading volume of 4,479,978 shares, compared to its average volume of 6,854,954. The stock has a market cap of $492.06 billion, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 1.85 and a beta of 0.95. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The business’s 50-day moving average is $272.74 and its 200-day moving average is $274.17. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the prior year, the firm earned $2.09 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts expect that Visa Inc. will post 9.94 earnings per share for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a yield of 0.77%. Visa’s payout ratio is currently 23.24%.

Insiders Place Their Bets

In related news, Director Lloyd Carney sold 909 shares of Visa stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares in the company, valued at $713,950.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Visa Company 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.