Barings LLC Sells 4,997 Shares of Visa Inc. (NYSE:V)

Barings LLC lessened its holdings in Visa Inc. (NYSE:V) by 85.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 869 shares of the credit-card processor’s stock after selling 4,997 shares during the period. Barings LLC’s holdings in Visa were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Visa by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock worth $39,685,966,000 after purchasing an additional 788,908 shares during the last quarter. Capital International Investors boosted its position in shares of Visa by 2.7% in the first quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after acquiring an additional 626,618 shares during the period. Capital World Investors grew its stake in shares of Visa by 5.4% in the first quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after acquiring an additional 968,008 shares in the last quarter. Norges Bank bought a new position in Visa during the fourth quarter worth about $3,895,015,000. Finally, Fisher Asset Management LLC raised its stake in Visa by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 8,900,179 shares of the credit-card processor’s stock worth $2,317,162,000 after purchasing an additional 166,767 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on V shares. Bank of America restated a “neutral” rating and set a $297.00 price objective (down previously from $305.00) on shares of Visa in a research note on Wednesday, July 10th. Royal Bank of Canada decreased their price target on Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Jefferies Financial Group dropped their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Piper Sandler reduced their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair upgraded shares of Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $309.54.

Visa Stock Performance

Shares of V opened at $283.96 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. The stock has a market cap of $517.46 billion, a P/E ratio of 31.73, a P/E/G ratio of 1.97 and a beta of 0.96. The stock has a 50-day moving average of $267.62 and a two-hundred day moving average of $273.21.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting the consensus estimate of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analyst estimates of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.16 EPS. As a group, research analysts predict that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.08 annualized dividend and a yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

About Visa

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.