Manhattan West Asset Management LLC Has $4.41 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Manhattan West Asset Management LLC raised its stake in Visa Inc. by 8.5%, now holding 12,573 shares valued at approximately $4.4 million, making Visa its 26th largest investment.
• Analysts have set new price targets for Visa, with Barclays and UBS raising their targets to $408.00 and $415.00 respectively, indicating strong confidence in the stock's performance.
• Visa declared a quarterly dividend of $0.59 per share, reflecting a 0.7% yield and a dividend payout ratio of 23.05%, highlighting its stable return strategy for investors.

Manhattan West Asset Management LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,573 shares of the credit-card processor's stock after buying an additional 980 shares during the period. Visa makes up 1.1% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 26th biggest holding. Manhattan West Asset Management LLC's holdings in Visa were worth $4,406,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. FWL Investment Management LLC increased its stake in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Yeomans Consulting Group Inc. increased its stake in Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after acquiring an additional 29 shares during the period. Semus Wealth Partners LLC increased its stake in Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after acquiring an additional 29 shares during the period. Capstone Financial Advisors Inc. increased its stake in Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after acquiring an additional 30 shares during the period. Finally, Headinvest LLC increased its stake in Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Trading Up 1.4%

NYSE V traded up $4.77 during trading hours on Friday, hitting $336.86. The company's stock had a trading volume of 6,071,880 shares, compared to its average volume of 6,296,455. The stock has a fifty day moving average of $352.79 and a 200 day moving average of $347.26. Visa Inc. has a twelve month low of $258.74 and a twelve month high of $375.51. The firm has a market capitalization of $617.39 billion, a P/E ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94. 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 (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 the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the prior year, the business posted $2.42 earnings per share. Visa's revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

Wall Street Analyst Weigh In

V has been the topic of several research analyst reports. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "buy" rating on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average price target of $380.84.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on 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. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were 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 owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

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.