Iron Gate Global Advisors LLC Buys 3,484 Shares of Visa Inc. $V

Key Points

• Iron Gate Global Advisors LLC increased its stock position in Visa Inc. by 5.9% during the first quarter, now holding 62,890 shares valued at approximately $22 million.
• Numerous institutional investors increased their holdings in Visa, with Acadian Asset Management significantly raising its stake by 467.9% to 930,329 shares valued at $326 million.
• Visa recently reported a quarterly EPS of $2.98, surpassing analyst estimates, and has a current market cap of $620.40 billion.

Iron Gate Global Advisors LLC increased its position in Visa Inc. (NYSE:V - Free Report) by 5.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,890 shares of the credit-card processor's stock after buying an additional 3,484 shares during the period. Visa accounts for 3.0% of Iron Gate Global Advisors LLC's portfolio, making the stock its 12th largest holding. Iron Gate Global Advisors LLC's holdings in Visa were worth $22,040,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in V. GAMMA Investing LLC increased its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Nuveen LLC acquired a new position in Visa in the first quarter worth approximately $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Visa in the fourth quarter worth approximately $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Visa by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock worth $4,210,207,000 after buying an additional 1,723,785 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on V. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Truist Financial lowered their price target on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft began coverage on Visa in a report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target on the stock. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $385.96.

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm'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 completion of the transaction, 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. Company insiders own 0.13% of the company's stock.

Visa Stock Performance

Shares of Visa stock traded down $4.16 during midday trading on Friday, hitting $339.33. The company had a trading volume of 3,516,759 shares, compared to its average volume of 4,916,709. The business's 50 day simple moving average is $347.03 and its two-hundred day simple moving average is $346.94. The stock has a market cap of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.29 and a beta of 0.92. 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 Inc. has a 1-year low of $268.23 and a 1-year high of $375.51.

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 (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $2.42 earnings per share. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

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.