TCW Group Inc. Has $209.06 Million Holdings in Visa Inc. (NYSE:V)

TCW Group Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 760,353 shares of the credit-card processor’s stock after selling 106,142 shares during the period. Visa makes up 1.8% of TCW Group Inc.’s investment portfolio, making the stock its 7th biggest holding. TCW Group Inc.’s holdings in Visa were worth $209,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in V. Peterson Financial Group Inc. bought a new stake in shares of Visa during the third quarter worth about $26,000. POM Investment Strategies LLC boosted its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa during the 3rd quarter worth approximately $31,000. TruNorth Capital Management LLC raised its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa in the second quarter worth approximately $35,000. Institutional investors own 82.15% of the company’s stock.

Visa Trading Up 1.3 %

Shares of V stock opened at $312.38 on Wednesday. The business has a 50-day moving average price of $296.38 and a two-hundred day moving average price of $279.98. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $317.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $581.93 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business posted $2.33 EPS. The business’s quarterly revenue was up 11.7% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on V. Piper Sandler boosted their target price on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Barclays boosted their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Bank of America upped their price objective on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. The Goldman Sachs Group reiterated a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Morgan Stanley increased their price target on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $324.74.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Visa 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.