QRG Capital Management Inc. Has $112.05 Million Stake in Visa Inc. $V

Key Points

• QRG Capital Management Inc. increased its stake in Visa Inc. by 24.9%, owning a total of 315,585 shares valued at approximately $112.05 million, making Visa its 14th largest investment.
• CEO Ryan Mcinerney sold 10,485 shares recently, reflecting a significant decrease of 95.13% in his position, while insider ownership stands at 0.13% of the company’s stock.
• Visa's recent quarterly earnings showed an EPS of $2.98, exceeding analysts' expectations, as the company reported revenue of $10.17 billion for the quarter.

QRG Capital Management Inc. raised its stake in Visa Inc. (NYSE:V - Free Report) by 24.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 315,585 shares of the credit-card processor's stock after purchasing an additional 62,967 shares during the quarter. Visa accounts for about 1.0% of QRG Capital Management Inc.'s portfolio, making the stock its 14th biggest position. QRG Capital Management Inc.'s holdings in Visa were worth $112,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of V. Brighton Jones LLC boosted its holdings in Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after acquiring an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Visa by 4.7% during the first quarter. Wedge Capital Management L L P NC now owns 2,562 shares of the credit-card processor's stock worth $898,000 after purchasing an additional 116 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in Visa by 28.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after purchasing an additional 37 shares in the last quarter. Finally, Bennett Selby Investments LP increased its stake in Visa by 1.7% in the 1st quarter. Bennett Selby Investments LP now owns 55,727 shares of the credit-card processor's stock valued at $19,530,000 after buying an additional 953 shares during the last quarter. Institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 0.2%

V stock opened at $349.21 on Tuesday. The stock has a fifty day moving average of $343.65 and a 200-day moving average of $346.89. Visa Inc. has a fifty-two week low of $273.24 and a fifty-two week high of $375.51. The company has a market capitalization of $640.03 billion, a price-to-earnings ratio of 34.10, a PEG ratio of 2.07 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm's quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.42 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors 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 yield of 0.7%. Visa's dividend payout ratio (DPR) is 23.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Macquarie boosted their target price on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. 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. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. Robert W. Baird set a $410.00 price target on shares of Visa and gave the stock an "outperform" rating in a report on Monday. Finally, Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $389.00.

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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