120,905 Shares in Visa Inc. $V Purchased by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. established a new position of 120,905 shares in Visa during Q4, worth about $42.4 million and representing roughly 1.9% of the fund's portfolio (its 15th largest holding).
• Visa beat quarterly expectations with EPS of $3.17 (vs. $3.14) and revenue of $10.90 billion, up 14.6% YoY, and has a consensus analyst rating of "Buy" with an average price target of $387.79.
• Institutional investors own about 82.15% of Visa, while corporate insiders hold just 0.12%; Director Lloyd Carney sold 650 shares at approximately $309.62 on March 11.

Coronation Fund Managers Ltd. purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 120,905 shares of the credit-card processor's stock, valued at approximately $42,403,000. Visa accounts for approximately 1.9% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 15th largest holding.

A number of other large investors have also recently made changes to their positions in V. Clayton Financial Group LLC boosted its position in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after buying an additional 58 shares during the period. PayPay Securities Corp boosted its position in Visa by 102.7% in the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after buying an additional 38 shares during the period. Parvin Asset Management LLC boosted its position in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after buying an additional 50 shares during the period. Dorato Capital Management purchased a new stake in Visa in the 4th quarter valued at about $30,000. Finally, Imprint Wealth LLC purchased a new stake in Visa in the 3rd quarter valued at about $39,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Visa

In other news, Director Lloyd Carney sold 650 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total value of $201,253.00. Following the completion of the sale, the director owned 2,679 shares in the company, valued at approximately $829,471.98. The trade was a 19.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company's stock.

Visa Trading Up 0.1%

NYSE:V opened at $309.68 on Tuesday. Visa Inc. has a one year low of $293.89 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $562.11 billion, a P/E ratio of 29.05, a P/E/G ratio of 1.78 and a beta of 0.80. The firm has a 50-day simple moving average of $309.79 and a 200-day simple moving average of $327.57.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the business posted $2.75 EPS. The company's quarterly revenue was up 14.6% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 12.84 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on V. Loop Capital began coverage on shares of Visa in a research report on Tuesday, March 31st. They issued a "buy" rating and a $387.00 price objective for the company. Freedom Capital raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research report on Monday, February 16th. BMO Capital Markets began coverage on shares of Visa in a research report on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price objective for the company. Daiwa Securities Group raised shares of Visa from a "neutral" rating to an "outperform" rating and set a $370.00 price objective for the company in a research report on Monday, February 2nd. Finally, Cantor Fitzgerald raised shares of Visa to a "strong-buy" rating in a research report on Tuesday, January 27th. Seven analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $387.79.

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.

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