Twin Capital Management Inc. Has $8.10 Million Stake in Visa Inc. $V

Twin Capital Management Inc. reduced its holdings in Visa Inc. (NYSE:V) by 23.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 23,727 shares of the credit-card processor’s stock after selling 7,472 shares during the quarter. Visa comprises 1.0% of Twin Capital Management Inc.’s holdings, making the stock its 13th biggest holding. Twin Capital Management Inc.’s holdings in Visa were worth $8,100,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Sonoma Allocations LLC bought a new stake in shares of Visa during the 3rd quarter worth approximately $710,000. AQR Capital Management LLC increased its holdings in Visa by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after buying an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its holdings in Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock worth $33,783,000 after buying an additional 5,295 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock worth $198,596,000 after acquiring an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after acquiring an additional 159,906 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Visa Trading Up 0.8%

Shares of Visa stock opened at $331.82 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.08 and a current ratio of 1.11. The firm has a 50-day moving average of $338.50 and a 200-day moving average of $340.95. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The stock has a market cap of $604.49 billion, a PE ratio of 31.13, a PEG ratio of 1.89 and a beta of 0.79.

Visa (NYSE:V) last issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, topping the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.75 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s payout ratio is 25.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Daiwa Securities Group upgraded shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a research note on Monday. Rothschild & Co Redburn set a $385.00 price target on Visa in a report on Wednesday, January 28th. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. HSBC raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Finally, Cantor Fitzgerald raised Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $392.29.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.12% of the company’s stock.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.