Visa Inc. $V Stock Holdings Raised by Shell Asset Management Co.

Key Points

• Shell Asset Management Co. increased its stake in Visa Inc. by 19.7%, owning over 112,000 shares valued at approximately $39.9 million, making it the firm's 8th largest holding.
• Visa recently reported quarterly earnings of $2.98 per share, exceeding estimates and showcasing a 14.3% revenue growth to $10.17 billion compared to the same quarter last year.
• Visa's stock has an average price target of $389.00, with analysts generally rating it as a "Moderate Buy", indicating positive growth expectations for the company.

Shell Asset Management Co. lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,470 shares of the credit-card processor's stock after buying an additional 18,489 shares during the quarter. Visa accounts for approximately 1.4% of Shell Asset Management Co.'s holdings, making the stock its 8th largest holding. Shell Asset Management Co.'s holdings in Visa were worth $39,932,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of V. Vanguard Group Inc. increased its holdings in Visa by 1.1% during 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 purchasing an additional 1,677,088 shares during the last quarter. Northern Trust Corp increased its holdings in Visa by 4.0% during 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 purchasing an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Visa by 7.2% during the 1st 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. Charles Schwab Investment Management Inc. increased its holdings in Visa by 3.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Trading Down 1.0%

NYSE:V opened at $343.63 on Friday. Visa Inc. has a 12-month low of $275.37 and a 12-month high of $375.51. The firm has a market capitalization of $629.79 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.06 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50 day simple moving average of $343.77 and a 200 day simple moving average of $346.97.

Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the previous year, the firm posted $2.42 EPS. The business's revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 EPS 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 given a dividend of $0.59 per share. The ex-dividend date 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%.

Insiders Place Their Bets

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the transaction, the chief executive officer owned 537 shares of the company's stock, valued at $183,815.10. This trade represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group restated a "buy" rating and set a $415.00 price objective (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Robert W. Baird set a $410.00 target price on Visa and gave the stock an "outperform" rating in a research report on Monday. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up previously from $396.00) on shares of Visa in a research report on Thursday, July 31st. Finally, Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus price target of $389.00.

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.

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