Titan Global Capital Management USA LLC Has $3.31 Million Position in Visa Inc. $V

Key Points

• Titan Global Capital Management USA LLC increased its stake in Visa Inc. by 10.8%, acquiring 9,444 shares valued at approximately $3.31 million by the end of the most recent reporting period.
• Visa has received upgrades from multiple analysts, with price targets ranging from $380 to $425, reflecting a consensus rating of "Moderate Buy" among analysts.
• The company reported earnings of $2.98 EPS for the quarter, exceeding estimates, and will pay a quarterly dividend of $0.59 per share, yielding 0.7%.

Titan Global Capital Management USA LLC grew its stake in Visa Inc. (NYSE:V - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,444 shares of the credit-card processor's stock after buying an additional 918 shares during the quarter. Titan Global Capital Management USA LLC's holdings in Visa were worth $3,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Visa by 1.1% in the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock valued at $56,452,949,000 after buying an additional 1,677,088 shares during the period. Northern Trust Corp boosted its holdings in shares of Visa by 4.0% in the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock valued at $6,654,189,000 after buying an additional 726,299 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Visa by 38,416.3% in 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 buying an additional 14,723,050 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Visa by 14.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor's stock valued at $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Visa by 1.3% in the fourth quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock valued at $4,045,149,000 after buying an additional 164,008 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on V shares. BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Macquarie upped their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Finally, Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $380.84.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 77,127 shares of company stock worth $28,340,553 over the last ninety days. Corporate insiders own 0.13% of the company's stock.

Visa Trading Down 0.1%

V stock opened at $343.5530 on Friday. 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 50-day simple moving average is $347.99 and its 200 day simple moving average is $347.37. Visa Inc. has a 52 week low of $265.31 and a 52 week high of $375.51. The company has a market capitalization of $629.66 billion, a PE ratio of 33.55, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company posted $2.42 earnings per share. Visa's revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid 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 is presently 23.05%.

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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