Nuveen LLC Makes New Investment in Visa Inc. (NYSE:V)

Key Points

• Nuveen LLC has acquired a new stake in Visa Inc., purchasing over 10 million shares valued at approximately $3.52 billion, making it the 12th largest position in its portfolio.
• Several analysts have increased their target prices for Visa, with estimates now ranging from $384 to $425, while the average rating stands at "Moderate Buy."
• Visa recently declared a quarterly dividend of $0.59 per share, offering an annualized yield of 0.7% with a payout ratio of 23.05%.

Nuveen LLC purchased a new stake in Visa Inc. (NYSE:V - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,039,755 shares of the credit-card processor's stock, valued at approximately $3,518,533,000. Visa accounts for about 1.1% of Nuveen LLC's holdings, making the stock its 12th largest position. Nuveen LLC owned 0.54% of Visa as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. von Borstel & Associates Inc. acquired a new stake in Visa during the first quarter worth approximately $27,000. Measured Risk Portfolios Inc. acquired a new stake in Visa during the fourth quarter worth approximately $47,000. Navigoe LLC acquired a new stake in Visa during the fourth quarter worth approximately $53,000. O Brien Wealth Partners LLC acquired a new stake in Visa during the first quarter worth approximately $54,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Visa during the first quarter worth approximately $56,000. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on V shares. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Macquarie increased their price target on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Citigroup began coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus target price of $380.84.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 75,100 shares of company stock worth $27,643,224 over the last quarter. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 1.4%

V stock opened at $336.86 on Friday. Visa Inc. has a twelve month low of $258.74 and a twelve month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock's 50 day moving average is $352.79 and its 200-day moving average is $347.13. The firm has a market capitalization of $621.56 billion, a PE ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter last year, the company earned $2.42 earnings per share. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

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

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.

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