Price Capital Management Inc. Invests $1.49 Million in Visa Inc. (NYSE:V)

Price Capital Management Inc. purchased a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,250 shares of the credit-card processor's stock, valued at approximately $1,489,000. Visa makes up approximately 3.8% of Price Capital Management Inc.'s portfolio, making the stock its 11th biggest position.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in Visa in the 4th quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its holdings in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Northern Trust Corp raised its holdings in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Visa in the 4th quarter valued at $673,689,000. Finally, Sanders Capital LLC acquired a new position in Visa in the 4th quarter valued at $623,022,000. Hedge funds and other institutional investors own 82.15% of the company's stock.

Visa Stock Down 0.3%

Visa stock traded down $0.99 during trading on Thursday, reaching $354.30. 5,882,734 shares of the company's stock were exchanged, compared to its average volume of 6,597,131. The company's 50-day moving average is $356.62 and its two-hundred day moving average is $344.40. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The firm has a market cap of $653.74 billion, a price-to-earnings ratio of 35.61, a PEG ratio of 2.38 and a beta of 0.92.

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

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's payout ratio is currently 23.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BMO Capital Markets boosted their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Oppenheimer boosted their price target on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Five 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $375.52.

Insider Buying and Selling at Visa

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,108 shares of company stock valued at $36,771,200 in the last ninety days. 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.