Advisors Capital Management LLC Has $25.06 Million Holdings in Visa Inc. $V

Key Points

• Advisors Capital Management LLC increased its holdings in Visa Inc. by 4.0%, owning a total of 71,505 shares valued at approximately $25.06 million.
• A range of institutional investors have made significant increases in their Visa shares, with Brighton Jones LLC and NorthRock Partners LLC raising their positions by 50.1% and 98.5% respectively.
• Visa recently reported $2.98 earnings per share for the quarter, surpassing analyst estimates, and declared a quarterly dividend of $0.59, reflecting a 0.7% dividend yield.

Advisors Capital Management LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,505 shares of the credit-card processor's stock after acquiring an additional 2,725 shares during the quarter. Advisors Capital Management LLC's holdings in Visa were worth $25,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after acquiring an additional 4,817 shares in the last quarter. LMR Partners LLP bought a new stake in shares of Visa during the fourth quarter worth $2,467,000. Northeast Financial Consultants Inc increased its position in shares of Visa by 1.2% during the fourth quarter. Northeast Financial Consultants Inc now owns 23,367 shares of the credit-card processor's stock worth $7,385,000 after acquiring an additional 274 shares in the last quarter. Finally, NorthRock Partners LLC increased its position in shares of Visa by 98.5% during the fourth quarter. NorthRock Partners LLC now owns 25,467 shares of the credit-card processor's stock worth $8,048,000 after acquiring an additional 12,639 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on V shares. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley raised their price target on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Macquarie raised their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa Price Performance

NYSE:V opened at $338.50 on Thursday. Visa Inc. has a 1-year low of $268.23 and a 1-year high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a fifty day simple moving average of $347.72 and a 200 day simple moving average of $347.07. The stock has a market capitalization of $620.40 billion, a PE ratio of 33.06, a P/E/G ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same period last year, the business earned $2.42 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Visa Company Profile

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.

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