Nicola Wealth Management LTD. Has $24.88 Million Position in Visa Inc. $V

Nicola Wealth Management LTD. reduced its position in shares of Visa Inc. (NYSE:V) by 13.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 71,000 shares of the credit-card processor’s stock after selling 11,000 shares during the quarter. Visa accounts for about 2.4% of Nicola Wealth Management LTD.’s holdings, making the stock its 5th biggest position. Nicola Wealth Management LTD.’s holdings in Visa were worth $24,883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in V. GAMMA Investing LLC grew its holdings in shares of Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Nuveen LLC bought a new stake in shares of Visa during the first quarter worth about $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Visa during the fourth quarter worth about $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 14.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock worth $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Visa Stock Up 1.5%

Shares of NYSE:V opened at $343.28 on Friday. The company has a market capitalization of $629.16 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.25 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business’s 50-day moving average is $347.41 and its 200-day moving average is $347.03. Visa Inc. has a 1 year low of $268.23 and a 1 year high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.42 EPS. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa’s dividend payout ratio (DPR) is currently 23.05%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Truist Financial lowered their price objective on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Raymond James Financial restated an “outperform” rating on shares of Visa in a research report on Wednesday, July 30th. Barclays restated an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group assumed coverage on Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $385.96.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% 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.