BTC Capital Management Inc. Invests $1.08 Million in Visa Inc. $V

Key Points

• BTC Capital Management Inc. invested $1.08 million in Visa Inc. by purchasing 3,050 shares during the second quarter.
• Visa's earnings report for the quarter showed a profit of $2.98 EPS, exceeding expectations, along with a revenue increase of 14.3% year-over-year.
• Visa also declared a quarterly dividend of $0.59 per share, representing an annual yield of 0.7% with a payout ratio of 23.05%.

BTC Capital Management Inc. bought a new position in Visa Inc. (NYSE:V - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,050 shares of the credit-card processor's stock, valued at approximately $1,083,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in V. Vanguard Group Inc. increased its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after buying an additional 726,299 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

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

Visa Stock Up 0.8%

V stock traded up $2.67 during mid-day trading on Monday, reaching $344.28. The company had a trading volume of 5,618,726 shares, compared to its average volume of 5,421,370. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The stock has a 50 day simple moving average of $345.58 and a two-hundred day simple moving average of $346.37. The company has a market capitalization of $630.99 billion, a price-to-earnings ratio of 33.62, a PEG ratio of 2.27 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued its quarterly 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. The company had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Analysts Set New Price Targets

A number of research firms have recently commented on V. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Truist Financial lowered their price objective 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 lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Finally, The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $385.96.

Visa 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.