Ninety One SA PTY Ltd Has $29.99 Million Holdings in Visa Inc. (NYSE:V)

Ninety One SA PTY Ltd grew its stake in Visa Inc. (NYSE:V - Free Report) by 93.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 86,521 shares of the credit-card processor's stock after acquiring an additional 41,762 shares during the period. Visa comprises 5.6% of Ninety One SA PTY Ltd's investment portfolio, making the stock its 4th biggest holding. Ninety One SA PTY Ltd's holdings in Visa were worth $29,985,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of V. von Borstel & Associates Inc. acquired a new stake in shares of Visa in the 1st quarter valued at $27,000. Sellwood Investment Partners LLC acquired a new stake in shares of Visa during the 4th quarter worth about $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in Visa during the fourth quarter worth approximately $47,000. Measured Risk Portfolios Inc. acquired a new position in Visa in the fourth quarter valued at approximately $47,000. Finally, Navigoe LLC purchased a new position in Visa in the fourth quarter valued at approximately $53,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 0.7%

NYSE:V traded up $2.35 during mid-day trading on Wednesday, hitting $356.90. The company had a trading volume of 7,295,817 shares, compared to its average volume of 6,839,066. The company has a current ratio of 1.08, a quick ratio of 1.08 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 $375.51. The firm has a market capitalization of $658.54 billion, a price-to-earnings ratio of 35.87, a PEG ratio of 2.42 and a beta of 0.92. The business has a fifty day simple moving average of $356.43 and a 200-day simple moving average of $342.00.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. Visa's dividend payout ratio (DPR) is 23.72%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was 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 of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on V shares. Piper Sandler lifted 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. Jefferies Financial Group upped their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. BMO Capital Markets increased 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. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Finally, Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.

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.