Visa Inc. (NYSE:V) Stock Position Decreased by Thornburg Investment Management Inc.

Thornburg Investment Management Inc. decreased its stake in shares of Visa Inc. (NYSE:V) by 0.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 44,809 shares of the credit-card processor’s stock after selling 413 shares during the period. Thornburg Investment Management Inc.’s holdings in Visa were worth $11,761,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. boosted its stake in Visa by 3.5% in the second quarter. Achmea Investment Management B.V. now owns 185,329 shares of the credit-card processor’s stock worth $48,644,000 after purchasing an additional 6,253 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of Visa by 9.4% during the second quarter. Y.D. More Investments Ltd now owns 17,109 shares of the credit-card processor’s stock worth $4,490,000 after acquiring an additional 1,466 shares during the last quarter. Cibc World Market Inc. raised its position in shares of Visa by 2.2% during the second quarter. Cibc World Market Inc. now owns 882,371 shares of the credit-card processor’s stock worth $231,596,000 after acquiring an additional 19,232 shares during the last quarter. Qsemble Capital Management LP raised its position in shares of Visa by 187.7% during the second quarter. Qsemble Capital Management LP now owns 15,550 shares of the credit-card processor’s stock worth $4,081,000 after acquiring an additional 10,146 shares during the last quarter. Finally, Linscomb Wealth Inc. increased its holdings in Visa by 2.1% in the second quarter. Linscomb Wealth Inc. now owns 39,824 shares of the credit-card processor’s stock valued at $10,453,000 after purchasing an additional 823 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Performance

Visa stock opened at $283.96 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a 1-year low of $227.78 and a 1-year high of $290.96. The firm has a market capitalization of $517.46 billion, a P/E ratio of 31.73, a price-to-earnings-growth ratio of 1.97 and a beta of 0.96. The company’s 50-day moving average is $267.62 and its 200 day moving average is $273.21.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the company posted $2.16 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

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

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on V shares. Citigroup dropped their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Compass Point started coverage on Visa in a report on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a report on Tuesday, September 3rd. Piper Sandler lowered their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Finally, Royal Bank of Canada lowered their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $309.54.

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.