Visa Inc. $V Shares Bought by Dorsey & Whitney Trust CO LLC

Key Points

• Dorsey & Whitney Trust CO LLC increased its stake in Visa Inc. by 2.3%, owning a total of 65,880 shares valued at over $23 million.
• Visa's recent earnings report showed earnings per share of $2.98, surpassing estimates and representing a year-over-year revenue growth of 14.3%.
• Analysts have recently raised their price targets for Visa, with a consensus target now at $380.84, indicating continued strong confidence in the stock.

Dorsey & Whitney Trust CO LLC raised its position in Visa Inc. (NYSE:V - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,880 shares of the credit-card processor's stock after purchasing an additional 1,463 shares during the quarter. Visa comprises 1.3% of Dorsey & Whitney Trust CO LLC's investment portfolio, making the stock its 14th biggest position. Dorsey & Whitney Trust CO LLC's holdings in Visa were worth $23,088,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of V. Vanguard Group Inc. lifted its holdings in shares of Visa by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Visa by 14.9% in the 4th 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 acquiring an additional 1,723,785 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Visa by 1.3% in the 4th quarter. Ameriprise Financial Inc. now owns 12,796,415 shares of the credit-card processor's stock worth $4,045,149,000 after acquiring an additional 164,008 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 77,127 shares of company stock valued at $28,340,553. Insiders own 0.13% of the company's stock.

Visa Price Performance

Shares of V opened at $342.51 on Wednesday. Visa Inc. has a fifty-two week low of $265.31 and a fifty-two week high of $375.51. The firm's 50 day moving average price is $349.13 and its 200 day moving average price is $347.41. The company has a market cap of $627.75 billion, a P/E ratio of 33.45, a PEG ratio of 2.28 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.

Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share 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 firm 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 firm earned $2.42 EPS. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal 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 given a $0.59 dividend. The ex-dividend date of this dividend is 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 is currently 23.05%.

Analysts Set New Price Targets

Several brokerages have recently commented on V. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Jefferies Financial Group upped their price objective on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Piper Sandler upped their price objective 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, Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

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.

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