Corient Private Wealth LP Boosts Stake in Visa Inc. $V

Corient Private Wealth LP boosted its holdings in Visa Inc. (NYSE:V - Free Report) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,693,507 shares of the credit-card processor's stock after acquiring an additional 18,964 shares during the quarter. Corient Private Wealth LP owned 0.09% of Visa worth $581,022,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Nixon Peabody Trust Co. boosted its position in shares of Visa by 58.1% during the first quarter. Nixon Peabody Trust Co. now owns 4,201 shares of the credit-card processor's stock worth $1,270,000 after acquiring an additional 1,543 shares during the last quarter. Vega Investment Solutions purchased a new position in Visa during the 2nd quarter valued at approximately $829,000. Beacon Financial Group grew its holdings in Visa by 83.9% during the 1st quarter. Beacon Financial Group now owns 22,501 shares of the credit-card processor's stock valued at $6,801,000 after buying an additional 10,267 shares in the last quarter. Sterling Investment Management LLC increased its stake in Visa by 43.7% in the 4th quarter. Sterling Investment Management LLC now owns 17,832 shares of the credit-card processor's stock worth $6,254,000 after acquiring an additional 5,421 shares during the last quarter. Finally, Pincus Capital Management LP bought a new stake in Visa in the 4th quarter worth approximately $4,278,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE V opened at $383.47 on Thursday. The company has a market cap of $684.27 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.06 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average price is $356.96 and its 200-day moving average price is $330.74. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $385.57.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.Visa's revenue was up 14.4% on a year-over-year basis. During the same period last year, the company earned $2.98 earnings per share. Sell-side analysts predict that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 22.79%.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Visa and Bluefin launched a unified card-present payment platform for global merchants. The offering combines payment acceptance, security and device management, potentially simplifying enterprise deployments, reducing compliance burdens and expanding Visa’s merchant-services opportunity. Visa launches unified card-present payment platform
• Positive Sentiment: Visa joined Singapore’s BLOOM initiative, which is intended to connect traditional payment networks with stablecoin-based settlement rails. The effort could improve cross-border payment efficiency and give Visa an early role in digital-payment interoperability. Visa joins BLOOM initiative
• Positive Sentiment: Growing stablecoin card spending and Visa’s stablecoin initiatives support the company’s longer-term opportunity in digital wallets, cross-border transactions and emerging payment forms. The growth may help Visa remain relevant as payment activity expands beyond conventional cards. Visa BLOOM initiative and digital payments
• Neutral Sentiment: Visa approved KARTY LLC for a FinTech Innovation Award following its Qatar launch. The recognition highlights Visa’s partnerships with fintechs but is unlikely to materially affect near-term financial results. KARTY receives Visa FinTech Innovation Award
• Negative Sentiment: After touching $385.57, Visa surrendered the breakout. Commentary points to profit-taking and investor caution around its roughly 33-times earnings valuation, which makes sustained gains more difficult even though payment volumes remain healthy. Visa hits record then surrenders breakout
• Negative Sentiment: CEO Ryan McInerney sold 5,875 shares worth about $2.16 million under a pre-arranged Rule 10b5-1 plan. The scheduled nature reduces the significance, but the transaction may still attract limited insider-selling scrutiny.

Insider Activity

In related news, insider Tullier Kelly Mahon sold 57,272 shares of the company's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the transaction, the insider directly owned 49,662 shares in the company, valued at approximately $18,125,140.14. This represents a 53.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $367.87, for a total transaction of $2,161,236.25. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at $5,582,059.38. This trade represents a 27.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 96,634 shares of company stock valued at $34,537,016. 0.12% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

V has been the subject of a number of research reports. Barclays began coverage on Visa in a research report on Tuesday, July 7th. They set an "overweight" rating and a $420.00 target price for the company. Piper Sandler reaffirmed an "overweight" rating and set a $430.00 price target (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Clear Str upgraded shares of Visa to a "strong-buy" rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $430.00 price objective on shares of Visa in a research note on Wednesday, July 29th. Finally, Raymond James Financial restated an "outperform" rating and issued a $406.00 target price on shares of Visa in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $414.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source