Mill Creek Capital Advisors LLC Grows Stake in Visa Inc. (NYSE:V)

Key Points

• Mill Creek Capital Advisors LLC has increased its stake in Visa Inc. by 33.5% during Q1, now holding 9,284 shares valued at approximately $3.25 million.
• Visa received several upgrades from analysts, with target prices raised; BMO Capital Markets set a new target of $380, while Mizuho raised it to $425.
• In the latest quarter, Visa reported earnings of $2.98 per share, exceeding analyst estimates, and announced a quarterly dividend of $0.59 per share to be paid on September 2nd.

Mill Creek Capital Advisors LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 33.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,284 shares of the credit-card processor's stock after purchasing an additional 2,332 shares during the period. Mill Creek Capital Advisors LLC's holdings in Visa were worth $3,254,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of V. GAMMA Investing LLC grew its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Nuveen LLC purchased a new stake in Visa during the 1st quarter valued at about $3,518,533,000. Northern Trust Corp grew its stake in Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Visa during the 4th quarter valued at about $673,689,000. Finally, Kovitz Investment Group Partners LLC grew its stake in Visa by 295.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after acquiring an additional 1,764,781 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on V shares. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, Mizuho upgraded 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 report on Thursday, June 5th. Five equities research 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Buying and Selling at Visa

In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were 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 $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by insiders.

Visa Trading Down 0.3%

NYSE V opened at $344.44 on Friday. The company's fifty day simple moving average is $350.17 and its 200-day simple moving average is $347.41. Visa Inc. has a 52 week low of $265.23 and a 52 week high of $375.51. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a market cap of $631.29 billion, a P/E ratio of 33.64, a PEG ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during 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%. The business's revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 earnings per share. Equities research analysts predict 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. Shareholders of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's payout ratio is presently 23.05%.

Visa 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.