Flputnam Investment Management Co. Boosts Holdings in Visa Inc. $V

Key Points

• Flputnam Investment Management Co. increased its stake in Visa Inc. by 1.8% during the first quarter, owning a total of 224,120 shares valued at approximately $78.5 million.
• Visa reported a quarterly earnings of $2.98 per share, surpassing analyst estimates, with a revenue of $10.17 billion, indicating a year-over-year increase of 14.3%.
• The company has declared a quarterly dividend of $0.59 per share, which is set to be paid on September 2nd, representing an annualized yield of 0.7%.

Flputnam Investment Management Co. grew its stake in Visa Inc. (NYSE:V - Free Report) by 1.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,120 shares of the credit-card processor's stock after buying an additional 3,903 shares during the period. Visa accounts for 1.5% of Flputnam Investment Management Co.'s holdings, making the stock its 13th biggest position. Flputnam Investment Management Co.'s holdings in Visa were worth $78,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in V. Brighton Jones LLC raised its holdings in shares of Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after buying an additional 4,817 shares during the last quarter. Apex Wealth Management LLC purchased a new position in shares of Visa in the fourth quarter worth $271,000. Freestone Grove Partners LP purchased a new position in shares of Visa during the fourth quarter worth $926,000. Finally, Gallagher Fiduciary Advisors LLC purchased a new position in shares of Visa during the fourth quarter worth $258,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Performance

V opened at $351.92 on Friday. The firm has a market capitalization of $645.00 billion, a PE ratio of 34.37, a PEG ratio of 2.34 and a beta of 0.94. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The firm's 50-day moving average price is $348.35 and its 200 day moving average price is $347.42. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. Visa's quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 earnings per share. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's payout ratio is presently 23.05%.

Analyst Ratings Changes

Several analysts recently commented on V shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Barclays reissued an "overweight" rating and set a $408.00 target price (up previously from $396.00) on shares of Visa in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. The trade was a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,127 shares of company stock worth $28,340,553 in the last ninety days. 0.13% of the stock is owned by insiders.

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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