Visa Inc. $V Holdings Trimmed by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. MD has reduced its stake in Visa by 0.6%, bringing its holdings to approximately 42.68 million shares, valued at around $14.96 billion, making Visa its 7th largest position.
• Several institutional investors have significantly increased their positions in Visa, with GAMMA Investing LLC soaring by 38,416.3% to own over 14.76 million shares, indicating growing confidence in the stock.
• Visa recently declared a quarterly dividend of $0.59 per share, which reflects a 0.7% yield and a dividend payout ratio of 23.05%.

Price T Rowe Associates Inc. MD decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 42,685,931 shares of the credit-card processor's stock after selling 266,889 shares during the period. Visa makes up 1.8% of Price T Rowe Associates Inc. MD's holdings, making the stock its 7th largest position. Price T Rowe Associates Inc. MD owned 2.30% of Visa worth $14,959,712,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Keystone Global Partners LLC bought a new stake in shares of Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. acquired a new position in shares of Visa in the 1st quarter valued at $27,000. Measured Risk Portfolios Inc. acquired a new position in shares of Visa in the 4th quarter valued at $47,000. O Brien Wealth Partners LLC acquired a new position in shares of Visa in the 1st quarter valued at $54,000. Finally, Global X Japan Co. Ltd. acquired a new position in shares of Visa in the 1st quarter valued at $56,000. Institutional investors own 82.15% of the company's stock.

Insider Activity

In other Visa news, 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 transaction, the insider owned 26,413 shares in the company, valued at $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, 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. In the last ninety days, insiders have sold 77,127 shares of company stock valued at $28,340,553. 0.13% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Jefferies Financial Group boosted their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Finally, Macquarie upped their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Visa Stock Up 1.6%

NYSE:V traded up $5.6280 on Friday, hitting $349.3180. 4,972,225 shares of the company's stock were exchanged, compared to its average volume of 6,437,222. The firm has a 50-day moving average price of $347.92 and a 200-day moving average price of $347.40. 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 52 week low of $265.31 and a 52 week high of $375.51. The company has a market cap of $640.23 billion, a P/E ratio of 34.11, a price-to-earnings-growth ratio of 2.29 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same period in the previous year, the firm posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.

Visa 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.