Davis R M Inc. Purchases 2,314 Shares of Visa Inc. (NYSE:V)

Key Points

• Davis R M Inc. increased its stake in Visa Inc. by 0.8% in the 1st quarter, owning 288,093 shares valued at approximately $100.97 million now representing 2.0% of its portfolio.
• Visa's most recent quarterly earnings reported $2.98 per share, exceeding estimates, with revenue rising 14.3% year-over-year to $10.17 billion.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.67%, payable on September 2nd to shareholders of record on August 12th.

Davis R M Inc. lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,093 shares of the credit-card processor's stock after acquiring an additional 2,314 shares during the period. Visa makes up about 2.0% of Davis R M Inc.'s portfolio, making the stock its 11th largest holding. Davis R M Inc.'s holdings in Visa were worth $100,965,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Lakeridge Wealth Management LLC lifted its stake in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after purchasing an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC acquired a new position in shares of Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC lifted its stake in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after acquiring an additional 30,185 shares during the last quarter. Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after acquiring an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after acquiring an additional 43,546 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Oppenheimer raised their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Piper Sandler boosted their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up previously from $405.00) on shares of Visa in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Visa Stock Down 1.9%

Visa stock traded down $6.66 during mid-day trading on Friday, reaching $338.81. The stock had a trading volume of 8,655,366 shares, compared to its average volume of 5,746,410. The firm has a market capitalization of $625.16 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.94. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The stock's 50-day simple moving average is $355.06 and its 200-day simple moving average is $346.34. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion during 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%. Visa's revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 EPS. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's payout ratio is presently 23.05%.

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.