Ninety One SA PTY Ltd Has $22.10 Million Holdings in Visa Inc. $V

Key Points

• Ninety One SA PTY Ltd reduced its holdings in Visa Inc. by 27.5%, now owning 62,694 shares, which represents 3.6% of its investment portfolio, valued at approximately $22.10 million.
• Visa's latest quarterly earnings reported $2.98 earnings per share, surpassing estimates, with revenues of $10.17 billion, marking a 14.3% year-over-year increase.
• The company recently declared a quarterly dividend of $0.59 per share, yielding about 0.7%, with a payout ratio of 23.05%.

Ninety One SA PTY Ltd lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 27.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,694 shares of the credit-card processor's stock after selling 23,827 shares during the quarter. Visa accounts for 3.6% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 7th largest holding. Ninety One SA PTY Ltd's holdings in Visa were worth $22,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Keystone Global Partners LLC bought a new stake in Visa during the first quarter worth $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa in the 2nd quarter valued at $28,000. von Borstel & Associates Inc. bought a new position in Visa in the 1st quarter valued at $27,000. Cranbrook Wealth Management LLC grew its stake in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor's stock valued at $32,000 after purchasing an additional 41 shares during the period. Finally, Westend Capital Management LLC grew its stake in Visa by 83.1% in the 2nd quarter. Westend Capital Management LLC now owns 108 shares of the credit-card processor's stock valued at $38,000 after purchasing an additional 49 shares during the period. Institutional investors own 82.15% of the company's stock.

Visa Stock Performance

NYSE:V opened at $349.90 on Friday. The business's 50-day moving average price is $343.78 and its two-hundred day moving average price is $346.70. Visa Inc. has a twelve month low of $273.24 and a twelve month high of $375.51. The stock has a market cap of $641.29 billion, a P/E ratio of 34.17, a PEG ratio of 2.05 and a beta of 0.90. 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 released its quarterly earnings results 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 return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the firm posted $2.42 EPS. The company's revenue was up 14.3% compared to the same quarter last year. As a group, equities analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on V shares. Truist Financial reduced their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Macquarie upped their price objective on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Saturday, September 27th. Morgan Stanley upped their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $385.96.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated 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 approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $183,815.10. This trade represents a 95.13% 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.

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.

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