Visa Inc. $V Shares Acquired by Prairie Advisory LLC

Key Points

• Prairie Advisory LLC nearly doubled its Visa position in the third quarter, purchasing 12,337 additional shares to hold 24,970 shares valued at approximately $8.97 million. Institutional investors and hedge funds collectively own 82.15% of Visa.
• Visa reported quarterly earnings of $3.32 per share and revenue of $11.63 billion, exceeding analyst expectations; revenue increased 14.4% year over year. The company also pays a quarterly dividend of $0.67 per share, yielding 0.7% annually.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $426.12. Visa shares recently traded near $402.56, close to their 52-week high of $404.74.

Prairie Advisory LLC lifted its position in Visa Inc. (NYSE:V - Free Report) by 97.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,970 shares of the credit-card processor's stock after purchasing an additional 12,337 shares during the quarter. Visa comprises 1.0% of Prairie Advisory LLC's holdings, making the stock its 21st largest position. Prairie Advisory LLC's holdings in Visa were worth $8,973,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Jackson Square Capital LLC boosted its holdings in Visa by 0.5% in the third quarter. Jackson Square Capital LLC now owns 7,587 shares of the credit-card processor's stock valued at $2,726,000 after purchasing an additional 34 shares during the last quarter. Quantum Financial Partners LLC grew its position in Visa by 11.8% during the 3rd quarter. Quantum Financial Partners LLC now owns 1,392 shares of the credit-card processor's stock worth $500,000 after purchasing an additional 147 shares during the period. Kaufman Rossin Wealth LLC purchased a new position in shares of Visa during the 3rd quarter valued at about $307,000. Sculati Wealth Management LLC raised its stake in shares of Visa by 0.5% during the 3rd quarter. Sculati Wealth Management LLC now owns 7,836 shares of the credit-card processor's stock valued at $3,050,000 after buying an additional 38 shares during the last quarter. Finally, Foguth Wealth Management LLC. raised its stake in shares of Visa by 5.2% during the 3rd quarter. Foguth Wealth Management LLC. now owns 952 shares of the credit-card processor's stock valued at $342,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.

Visa Stock Performance

NYSE V traded down $0.05 during mid-day trading on Monday, reaching $402.56. 1,997,540 shares of the stock were exchanged, compared to its average volume of 7,521,127. The company has a market capitalization of $718.33 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.89 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.99 and a current ratio of 0.99. The business's 50 day moving average is $372.73 and its 200-day moving average is $346.62. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $404.74.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating analysts' consensus estimates of $3.23 by $0.09. The company had revenue of $11.63 billion during the quarter, compared to analysts' expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.98 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 13.22 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 11th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, August 11th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is 22.79%.

Analyst Ratings Changes

Several brokerages have recently issued reports on V. Evercore boosted their price objective on Visa from $350.00 to $370.00 in a report on Wednesday, July 29th. Truist Financial set a $406.00 target price on Visa and gave the stock a "buy" rating in a report on Wednesday, August 5th. Bank of America raised their target price on Visa from $410.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. KeyCorp lifted their price target on Visa from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, Rothschild & Co Redburn boosted their price target on Visa from $430.00 to $444.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Strong Buy rating and thirty-four have issued a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $426.12.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 1,867 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total value of $687,690.78. Following the completion of the transaction, the general counsel owned 18,404 shares of the company's stock, valued at approximately $6,778,929.36. This represents a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ryan Mcinerney sold 5,875 shares of the stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $358.81, for a total value of $2,108,008.75. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,444,582.94. This represents a 27.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,792 shares of company stock worth $28,863,319 in the last ninety days. Company insiders own 0.12% of the company's stock.

Visa Company Profile

Visa Inc NYSE: V is a global payments technology company that facilitates electronic payments between consumers, businesses, financial institutions and governments. Through its VisaNet network, the company authorizes, clears and settles transactions made with Visa-branded credit, debit and prepaid cards, while generally not issuing cards, extending credit or setting cardholder account terms.

Visa provides payment products and services for consumer, commercial and government payments, as well as digital commerce and money movement.

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