First Manhattan CO. LLC. Raises Holdings in Visa Inc. $V

Key Points

• First Manhattan CO. LLC. has increased its stake in Visa Inc. by 3.6%, owning 1,299,273 shares valued at approximately $455 million, making Visa the firm's 13th largest position.
• Visa's recent quarterly earnings revealed an EPS of $2.98, surpassing estimates, with a revenue of $10.17 billion, reflecting a 14.3% year-over-year growth.
• The company announced a quarterly dividend of $0.59, with an annualized yield of 0.7%, to be paid on September 2nd to investors recorded by August 12th.

First Manhattan CO. LLC. raised its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,299,273 shares of the credit-card processor's stock after buying an additional 45,615 shares during the quarter. Visa comprises about 1.3% of First Manhattan CO. LLC.'s investment portfolio, making the stock its 13th biggest holding. First Manhattan CO. LLC. owned about 0.07% of Visa worth $455,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of V. Brighton Jones LLC grew its stake in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after acquiring an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its holdings in Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Visa during the fourth quarter valued at approximately $926,000. Gallagher Fiduciary Advisors LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $258,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Visa by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock valued at $4,045,149,000 after acquiring an additional 164,008 shares in the last quarter. Institutional investors own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on V shares. Barclays reaffirmed an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Truist Financial cut their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Oppenheimer raised their price target on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $383.17.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was 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 trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,507 shares of company stock valued at $25,213,475 in the last three months. 0.13% of the stock is owned by corporate insiders.

Visa Trading Up 0.1%

NYSE:V traded up $0.28 on Wednesday, reaching $350.35. 4,035,793 shares of the company's stock were exchanged, compared to its average volume of 5,490,003. The business has a fifty day moving average of $348.47 and a 200-day moving average of $347.36. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $268.23 and a 52-week high of $375.51. The firm has a market capitalization of $642.11 billion, a price-to-earnings ratio of 34.21, a price-to-earnings-growth ratio of 2.34 and a beta of 0.92.

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

Visa Announces Dividend

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