Visa Inc. $V is Weitz Investment Management Inc.’s 4th Largest Position

Weitz Investment Management Inc. decreased its holdings in shares of Visa Inc. (NYSE:V) by 9.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 270,580 shares of the credit-card processor’s stock after selling 27,495 shares during the quarter. Visa comprises approximately 5.0% of Weitz Investment Management Inc.’s portfolio, making the stock its 4th biggest holding. Weitz Investment Management Inc.’s holdings in Visa were worth $92,371,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sagard Holdings Management Inc. bought a new position in Visa in the 2nd quarter worth about $31,000. Bare Financial Services Inc lifted its holdings in shares of Visa by 287.0% in the second quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after buying an additional 66 shares in the last quarter. Quaker Wealth Management LLC boosted its position in shares of Visa by 202.7% in the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after acquiring an additional 225 shares during the period. Winnow Wealth LLC bought a new position in shares of Visa in the second quarter valued at approximately $40,000. Finally, Decker Retirement Planning Inc. purchased a new position in Visa during the second quarter valued at approximately $41,000. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. Bank of America upgraded shares of Visa from a “neutral” rating to a “buy” rating and set a $382.00 target price on the stock in a research note on Thursday, December 11th. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Piper Sandler set a $160.00 price target on Visa in a report on Wednesday, January 28th. Finally, Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus price target of $391.43.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value 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. The trade was a 52.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.12% of the company’s stock.

Visa Trading Up 0.3%

NYSE V opened at $307.29 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The stock’s 50-day simple moving average is $334.82 and its two-hundred day simple moving average is $338.56. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The company has a market capitalization of $557.78 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.76 and a beta of 0.79.

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

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is presently 25.14%.

Visa 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.