Empowered Funds LLC Has $29.92 Million Position in Visa Inc. $V

Key Points

• Empowered Funds LLC increased its holdings in Visa Inc. by 5% in Q1, owning 85,366 shares valued at approximately $29.92 million.
• Visa reported strong earnings with $2.98 EPS for the last quarter, exceeding estimates, and a 14.3% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7% and a payout ratio of 23.05%.

Empowered Funds LLC increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,366 shares of the credit-card processor's stock after acquiring an additional 4,103 shares during the quarter. Visa comprises 0.4% of Empowered Funds LLC's portfolio, making the stock its 25th biggest holding. Empowered Funds LLC's holdings in Visa were worth $29,917,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. AAF Wealth Management LLC acquired a new position in shares of Visa during the 1st quarter worth approximately $244,000. MBB Public Markets I LLC acquired a new position in shares of Visa during the 1st quarter worth approximately $328,000. Vancity Investment Management Ltd acquired a new position in shares of Visa during the 1st quarter worth approximately $44,811,000. Ascent Group LLC increased its holdings in shares of Visa by 44.7% during the 1st quarter. Ascent Group LLC now owns 60,580 shares of the credit-card processor's stock worth $21,231,000 after acquiring an additional 18,701 shares during the last quarter. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of Visa by 846.1% during the 1st quarter. Coppell Advisory Solutions LLC now owns 27,843 shares of the credit-card processor's stock worth $9,509,000 after acquiring an additional 24,900 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Stock Performance

NYSE:V opened at $342.45 on Tuesday. The stock has a fifty day moving average price of $348.26 and a 200-day moving average price of $347.15. The company has a market cap of $627.64 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.28 and a beta of 0.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a fifty-two week low of $268.23 and a fifty-two week high of $375.51.

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 analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The company's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.42 EPS. As a group, equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced 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. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company'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 directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,293 shares of company stock worth $8,114,295 in the last ninety days. 0.13% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on V shares. Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price target on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. Truist Financial reduced their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Finally, Raymond James Financial restated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

About Visa

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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