Visa Inc. $V Shares Purchased by WCM Investment Management LLC

Key Points

• WCM Investment Management LLC increased its stake in Visa Inc. by 4.2% during the second quarter, now holding 2,168,620 shares valued at approximately $756 million.
• Multiple hedge funds also raised their stakes in Visa, with notable increases such as WealthPlan Investment Management LLC's 280.3% increase in the same quarter.
• Analysts have set new price targets for Visa shares, with Macquarie raising its target to $425.00 and a consensus rating of "Moderate Buy" among analysts.

WCM Investment Management LLC increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 4.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,168,620 shares of the credit-card processor's stock after acquiring an additional 88,225 shares during the quarter. Visa comprises approximately 1.7% of WCM Investment Management LLC's portfolio, making the stock its 21st largest holding. WCM Investment Management LLC owned about 0.12% of Visa worth $756,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Evernest Financial Advisors LLC raised its stake in Visa by 12.5% during the 2nd quarter. Evernest Financial Advisors LLC now owns 3,579 shares of the credit-card processor's stock worth $1,271,000 after acquiring an additional 397 shares in the last quarter. Omnia Family Wealth LLC increased its stake in Visa by 13.7% in the second quarter. Omnia Family Wealth LLC now owns 3,735 shares of the credit-card processor's stock valued at $1,326,000 after purchasing an additional 451 shares during the period. Turtle Creek Wealth Advisors LLC increased its stake in Visa by 24.4% in the second quarter. Turtle Creek Wealth Advisors LLC now owns 28,878 shares of the credit-card processor's stock valued at $10,253,000 after purchasing an additional 5,659 shares during the period. WealthPlan Investment Management LLC increased its stake in Visa by 280.3% in the second quarter. WealthPlan Investment Management LLC now owns 4,275 shares of the credit-card processor's stock valued at $1,518,000 after purchasing an additional 3,151 shares during the period. Finally, Callahan Advisors LLC increased its stake in Visa by 4.1% in the second quarter. Callahan Advisors LLC now owns 9,239 shares of the credit-card processor's stock valued at $3,280,000 after purchasing an additional 360 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on V shares. Macquarie lifted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the company an "outperform" rating in a research note on Monday, October 6th. Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Oppenheimer lifted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial dropped their price objective on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $389.00.

Insider Transactions at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the sale, the chief executive officer directly owned 537 shares in the company, valued at approximately $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Visa Stock Up 1.9%

Shares of NYSE:V opened at $341.90 on Monday. The company has a market cap of $626.63 billion, a price-to-earnings ratio of 33.39, a PEG ratio of 2.03 and a beta of 0.90. The firm's 50-day simple moving average is $344.30 and its 200-day simple moving average is $346.89. 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 Inc. has a fifty-two week low of $280.78 and a fifty-two week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.13. The business had revenue of $10.17 billion for 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%. The business's quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.42 earnings per share. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were issued 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 yield of 0.7%. Visa's payout ratio is currently 23.05%.

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.

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.