Blue Trust Inc. Boosts Stock Position in Visa Inc. $V

Blue Trust Inc. grew its stake in shares of Visa Inc. (NYSE:VFree Report) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,248 shares of the credit-card processor’s stock after acquiring an additional 366 shares during the period. Blue Trust Inc.’s holdings in Visa were worth $5,059,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in shares of Visa during the first quarter valued at about $3,518,533,000. Vanguard Group Inc. grew its stake in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock valued at $3,847,953,000 after buying an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Visa during the first quarter valued at about $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 1.5%

Shares of V stock opened at $348.39 on Wednesday. The stock has a market cap of $638.53 billion, a P/E ratio of 34.02, a PEG ratio of 2.03 and a beta of 0.90. Visa Inc. has a 52 week low of $278.35 and a 52 week high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $344.01 and its two-hundred day simple moving average is $346.98.

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

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 yield of 0.7%. Visa’s payout ratio is presently 23.05%.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on V shares. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Truist Financial cut their target price on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Barclays reissued an “overweight” rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, UBS Group reissued a “buy” rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.00.

Read Our Latest Stock Analysis on Visa

Visa Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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