Makena Capital Management LLC Purchases 21,249 Shares of Visa Inc. $V

Key Points

• Makena Capital Management LLC significantly increased its holdings in Visa Inc. by 45.9%, acquiring more than 21,000 shares during the first quarter, bringing its total to approximately 67,589 shares.
• Visa recently reported a quarterly revenue of $10.17 billion, exceeding analysts' estimates, with earnings per share of $2.98, reflecting a 14.3% year-over-year increase.
• Multiple analysts have revised their price targets for Visa, with estimates ranging from $384.00 to $425.00, and a majority rating the stock as a "Buy" or "Outperform".

Makena Capital Management LLC raised its stake in Visa Inc. (NYSE:V - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,589 shares of the credit-card processor's stock after purchasing an additional 21,249 shares during the period. Visa accounts for approximately 2.4% of Makena Capital Management LLC's investment portfolio, making the stock its 11th biggest position. Makena Capital Management LLC's holdings in Visa were worth $23,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lakeridge Wealth Management LLC grew its stake in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new stake in Visa during the fourth quarter worth about $306,000. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Visa by 14.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. Finally, Eagle Strategies LLC grew its stake in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after buying an additional 63 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is owned by company insiders.

Visa Trading Down 0.0%

NYSE V traded down $0.1320 during trading hours on Thursday, reaching $343.7980. The company's stock had a trading volume of 1,532,175 shares, compared to its average volume of 6,547,563. The firm has a fifty day simple moving average of $348.54 and a 200-day simple moving average of $347.39. The stock has a market cap of $630.11 billion, a P/E ratio of 33.58, a P/E/G ratio of 2.28 and a beta of 0.94. Visa Inc. has a 52 week low of $265.31 and a 52 week high of $375.51. 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 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 business had revenue of $10.17 billion during 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%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.42 EPS. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

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 $0.59 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Jefferies Financial Group increased their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Truist Financial dropped 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. Finally, Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.