Mairs & Power Inc. Trims Position in Visa Inc. $V

Mairs & Power Inc. decreased its position in shares of Visa Inc. (NYSE:V) by 0.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 791,147 shares of the credit-card processor’s stock after selling 3,849 shares during the quarter. Visa comprises approximately 2.5% of Mairs & Power Inc.’s portfolio, making the stock its 11th biggest holding. Mairs & Power Inc.’s holdings in Visa were worth $270,082,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. lifted its holdings in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Corient Private Wealth LLC grew its position in Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after acquiring an additional 2,075,289 shares during the period. Holocene Advisors LP increased its stake in Visa by 286.4% during the third quarter. Holocene Advisors LP now owns 2,526,026 shares of the credit-card processor’s stock worth $862,335,000 after acquiring an additional 1,872,362 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Visa by 0.9% during the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Macquarie Infrastructure reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Visa in a research note on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 price objective on shares of Visa in a research report on Friday, January 30th. UBS Group restated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Evercore set a $380.00 target price on shares of Visa in a research report on Friday, December 12th. Finally, Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research note on Monday, February 2nd. Seven research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Visa presently has an average rating of “Buy” and an average price target of $392.65.

Visa Stock Up 1.0%

NYSE:V opened at $310.10 on Tuesday. 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 fifty day moving average is $324.62 and its two-hundred day moving average is $335.62. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The stock has a market capitalization of $562.88 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

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, beating analysts’ consensus estimates 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 return on equity of 61.74% and a net margin of 50.23%.The company’s revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.75 earnings per share. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, February 10th. Visa’s payout ratio is currently 25.14%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lloyd Carney sold 650 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director directly owned 2,679 shares in the company, valued at $829,471.98. This represents a 19.53% decrease in their position. The SEC filing for this sale provides additional information. 0.12% of the stock is owned by corporate insiders.

About Visa

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.