Visa Inc. $V is Douglas Lane & Associates LLC's 8th Largest Position

Key Points

• Douglas Lane & Associates LLC reduced its holdings in Visa Inc. by 7.2%, making it the firm's 8th largest position with 368,467 shares valued at $130.8 million.
• Recent analyst reports show a consensus rating of "Moderate Buy" for Visa, with an average target price of $385.96, reflecting positive sentiments from multiple upgrades.
• Visa reported a $2.98 EPS for the quarter, surpassing estimates, with a net margin of 52.16% and revenue growth of 14.3% year-over-year.

Douglas Lane & Associates LLC trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,467 shares of the credit-card processor's stock after selling 28,543 shares during the period. Visa comprises approximately 1.9% of Douglas Lane & Associates LLC's portfolio, making the stock its 8th largest position. Douglas Lane & Associates LLC's holdings in Visa were worth $130,824,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC boosted its position in Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after purchasing an additional 57,800 shares during the last quarter. Iron Gate Global Advisors LLC grew its stake in shares of Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after purchasing an additional 3,484 shares during the last quarter. Yeomans Consulting Group Inc. grew its stake in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after purchasing an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of several recent analyst reports. Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. Jefferies Financial Group raised their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Morgan Stanley raised their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Truist Financial cut 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. Finally, Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $385.96.

Visa Stock Performance

Shares of V opened at $339.33 on Friday. 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 Inc. has a one year low of $268.23 and a one year high of $375.51. The company has a 50-day simple moving average of $347.03 and a two-hundred day simple moving average of $346.92. The firm has a market capitalization of $621.92 billion, a PE ratio of 33.14, a price-to-earnings-growth ratio of 2.29 and a beta of 0.92.

Visa (NYSE:V - Get Free Report) last issued 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. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period last year, the business posted $2.42 earnings per share. Visa's quarterly revenue was up 14.3% compared to the same quarter last year. On average, analysts anticipate 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 was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the sale, the general counsel owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's 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 sale, the chief executive officer directly 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. 0.13% of the stock is currently owned by company insiders.

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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