Guggenheim Capital LLC Boosts Position in Visa Inc. $V

Key Points

• Guggenheim Capital LLC increased its holdings in Visa Inc. by 3.7% in the first quarter, bringing its total shares to 272,472, which are valued at approximately $95.5 million.
• Visa recently reported earnings of $2.98 per share, surpassing analysts' estimates, with significant revenue growth of 14.3% year-over-year to $10.17 billion.
• The company announced a quarterly dividend of $0.59 per share, yielding 0.7%, with payment scheduled for September 2nd to shareholders of record by August 12th.

Guggenheim Capital LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,472 shares of the credit-card processor's stock after purchasing an additional 9,838 shares during the quarter. Visa accounts for approximately 0.9% of Guggenheim Capital LLC's investment portfolio, making the stock its 12th largest position. Guggenheim Capital LLC's holdings in Visa were worth $95,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Keystone Global Partners LLC bought a new position in shares of Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the first quarter valued at approximately $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa in the fourth quarter valued at approximately $47,000. Navigoe LLC acquired a new stake in Visa during the 4th quarter valued at approximately $53,000. Finally, O Brien Wealth Partners LLC acquired a new stake in Visa during the 1st quarter valued at approximately $54,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

Shares of Visa stock traded down $0.25 during trading hours on Thursday, hitting $350.10. 4,987,056 shares of the company's stock traded hands, compared to its average volume of 6,288,815. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The stock has a market capitalization of $641.65 billion, a price-to-earnings ratio of 34.19, a PEG ratio of 2.33 and a beta of 0.94. The company has a fifty day simple moving average of $348.07 and a 200-day simple moving average of $347.44. 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 (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the firm posted $2.42 EPS. The business's revenue was up 14.3% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Activity

In other news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 77,127 shares of company stock valued at $28,340,553 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler raised their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Macquarie raised their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

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.