Rathbones Group PLC Purchases 10,955 Shares of Visa Inc. (NYSE:V)

Key Points

• Rathbones Group PLC increased its stake in Visa Inc. by buying an additional 10,955 shares, bringing its total ownership to approximately $1.2 billion and making Visa its second largest position.
• Several hedge fund firms have significantly increased their holdings in Visa, with GAMMA Investing LLC seeing a remarkable 38,416.3% increase during the first quarter.
• Visa reported strong quarterly earnings with $2.98 earnings per share, surpassing estimates, and plans to distribute a quarterly dividend of $0.59, reflecting a yield of 0.7%.

Rathbones Group PLC boosted its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,420,751 shares of the credit-card processor's stock after buying an additional 10,955 shares during the quarter. Visa makes up 5.8% of Rathbones Group PLC's holdings, making the stock its 2nd biggest position. Rathbones Group PLC owned about 0.18% of Visa worth $1,198,836,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC purchased a new position in Visa during the first quarter valued at $3,518,533,000. Northern Trust Corp lifted its holdings in Visa by 18.0% during the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Visa during the fourth quarter valued at $673,689,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in Visa by 295.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after purchasing an additional 1,764,781 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock valued at $27,643,224 in the last 90 days. Company insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V opened at $335.94 on Tuesday. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The stock has a market cap of $615.70 billion, a PE ratio of 32.81, a P/E/G ratio of 2.25 and a beta of 0.94. The firm has a 50-day simple moving average of $352.21 and a two-hundred day simple moving average of $347.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick 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 for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.42 earnings per share. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Morgan Stanley increased their price objective on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Truist Financial decreased their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a report on Thursday, July 17th. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Barclays reissued an "overweight" rating and issued a $408.00 price target (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Finally, Piper Sandler raised their price target on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

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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