Nexus Investment Management ULC Grows Position in Visa Inc. (NYSE:V)

Nexus Investment Management ULC boosted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 5.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,236 shares of the credit-card processor's stock after purchasing an additional 3,060 shares during the quarter. Visa comprises about 3.1% of Nexus Investment Management ULC's investment portfolio, making the stock its 17th largest position. Nexus Investment Management ULC's holdings in Visa were worth $20,409,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC purchased a new position in Visa in the 4th quarter worth about $27,000. POM Investment Strategies LLC increased its stake in Visa by 48.5% in the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after buying an additional 32 shares during the period. Compass Planning Associates Inc purchased a new position in Visa in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. increased its stake in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock worth $36,000 after buying an additional 83 shares during the period. Finally, NewSquare Capital LLC purchased a new position in Visa in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Activity at Visa

In related news, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,377,671.52. The trade was a 35.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 113,328 shares of company stock worth $38,419,222 in the last three months. Company insiders own 0.13% of the company's stock.

Analyst Upgrades and Downgrades

V has been the topic of several recent research reports. Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Evercore ISI initiated coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Oppenheimer reiterated an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler increased their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Barclays increased their target price on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $367.48.

Visa Stock Performance

NYSE V traded down $0.39 on Monday, hitting $364.80. 2,697,011 shares of the company's stock traded hands, compared to its average volume of 6,999,257. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $369.15. The firm's 50-day moving average price is $343.40 and its two-hundred day moving average price is $333.88. The firm has a market capitalization of $673.12 billion, a PE ratio of 36.77, a P/E/G ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the business posted $2.51 EPS. The business's revenue was up 9.3% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.

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.