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Visa Inc. (NYSE:V) Stock Position Lowered by Scotia Capital Inc.

Visa logo with Business Services background

Key Points

  • Scotia Capital Inc. reduced its stake in Visa Inc. by 0.8%, now owning approximately 1.52 million shares valued at $532.6 million, making it the fund's 7th largest position.
  • Visa reported Q3 earnings of $2.98 EPS, surpassing expectations, with revenue reaching $10.17 billion, a 14.3% increase compared to the previous year.
  • The company declared a quarterly dividend of $0.59 per share, with a payout ratio of 23.05%, scheduled for payment on September 2nd.
  • MarketBeat previews top five stocks to own in September.

Scotia Capital Inc. cut its stake in Visa Inc. (NYSE:V - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,519,770 shares of the credit-card processor's stock after selling 11,809 shares during the period. Visa makes up about 2.9% of Scotia Capital Inc.'s portfolio, making the stock its 7th biggest holding. Scotia Capital Inc. owned approximately 0.08% of Visa worth $532,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Capital International Investors grew its position in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors boosted its holdings in Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares in the last quarter. Northern Trust Corp raised its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. GAMMA Investing LLC raised its stake 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 worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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 worth $4,210,207,000 after purchasing an additional 1,723,785 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

V traded down $6.66 during mid-day trading on Friday, reaching $338.81. 8,655,366 shares of the company traded hands, compared to its average volume of 6,179,344. The stock has a market capitalization of $625.16 billion, a P/E ratio of 33.09, a P/E/G ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. The company's fifty day moving average price is $355.06 and its 200-day moving average price is $346.75. Visa Inc. has a 52-week low of $254.51 and a 52-week high of $375.51.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping the consensus estimate of $2.85 by $0.13. The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.42 EPS. On average, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 in the last ninety days. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

V has been the subject of a number of research analyst reports. Barclays reaffirmed an "overweight" rating and set a $408.00 price target (up from $396.00) on shares of Visa in a research report on Thursday. The Goldman Sachs Group initiated coverage on Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Morgan Stanley lifted their price objective on Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Finally, Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $380.84.

View Our Latest Stock Analysis on Visa

Visa Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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