Plato Investment Management Ltd Has $14.86 Million Position in Visa Inc. $V

Key Points

• Plato Investment Management Ltd reduced its holdings in Visa Inc. by 4.5% in the first quarter, now owning 41,954 shares valued at approximately $14.86 million.
• Visa reported quarterly earnings of $2.98 EPS, exceeding analyst expectations and marking a 14.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.59 per share, representing an annualized yield of 0.7% with a payout ratio of 23.05%.

Plato Investment Management Ltd decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,954 shares of the credit-card processor's stock after selling 1,969 shares during the period. Visa makes up 1.3% of Plato Investment Management Ltd's portfolio, making the stock its 9th biggest holding. Plato Investment Management Ltd's holdings in Visa were worth $14,863,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in V. Keystone Global Partners LLC acquired a new position in shares of Visa in the first quarter worth about $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the first quarter worth about $27,000. 1 North Wealth Services LLC acquired a new position in shares of Visa in the first quarter worth about $38,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa in the fourth quarter worth about $47,000. Finally, O Brien Wealth Partners LLC purchased a new stake in shares of Visa in the first quarter worth approximately $54,000. Institutional investors own 82.15% of the company's stock.

Visa Stock Up 0.5%

Shares of NYSE:V opened at $344.11 on Wednesday. Visa Inc. has a 52 week low of $268.23 and a 52 week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company's fifty day moving average is $348.03 and its 200-day moving average is $347.13. The company has a market capitalization of $630.68 billion, a PE ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92.

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 the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is 23.05%.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on V shares. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating for the company. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Macquarie boosted their price target on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Visa in a report on Thursday, July 17th. They issued a "buy" rating and a $410.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $385.96.

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.

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