Visa Inc. $V Stock Position Lifted by Blacksheep Fund Management Ltd

Key Points

• Blacksheep Fund Management increased its Visa stake by 85.2% in the second quarter to 186,550 shares valued at approximately $64 million, making Visa 20.7% of its portfolio.
• Analysts remain broadly bullish, with Visa receiving a consensus “Buy” rating and an average price target of $416.62. Institutional investors own approximately 82.15% of the company.
• Visa recently exceeded quarterly earnings and revenue expectations, reporting $3.32 in EPS and $11.63 billion in revenue, while shares opened at $374.46. Insiders sold roughly $37.5 million of stock during the last quarter.

Blacksheep Fund Management Ltd raised its holdings in Visa Inc. (NYSE:V - Free Report) by 85.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,550 shares of the credit-card processor's stock after purchasing an additional 85,840 shares during the quarter. Visa accounts for 20.7% of Blacksheep Fund Management Ltd's investment portfolio, making the stock its 2nd largest position. Blacksheep Fund Management Ltd's holdings in Visa were worth $64,003,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Brighton Jones LLC increased its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after buying an additional 6,883 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Nicholas Hoffman & Company LLC. grew its position in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY grew its position in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after acquiring an additional 164 shares during the period. Finally, Schnieders Capital Management LLC. increased its stake in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock worth $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on V shares. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $450.00 price target on shares of Visa in a report on Tuesday, June 2nd. Truist Financial set a $406.00 price objective on Visa and gave the company a "buy" rating in a report on Wednesday, August 5th. Piper Sandler reissued an "overweight" rating and issued a $430.00 target price (up from $394.00) on shares of Visa in a research report on Wednesday, July 29th. UBS Group restated a "buy" rating and issued a $420.00 target price (up from $410.00) on shares of Visa in a research note on Wednesday, July 29th. Finally, Citigroup reaffirmed a "buy" rating and set a $440.00 price target (up from $400.00) on shares of Visa in a research report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Strong Buy rating and twenty-four have given a Buy rating to the company. Based on data from MarketBeat, Visa has an average rating of "Buy" and a consensus target price of $416.62.

Insider Buying and Selling

In other Visa news, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $364.97, for a total transaction of $20,902,561.84. Following the completion of the transaction, the insider owned 49,662 shares of the company's stock, valued at $18,125,140.14. The trade was a 53.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Julie Rottenberg sold 2,028 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $381.35, for a total transaction of $773,377.80. Following the completion of the sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $7,018,365.40. The trade was a 9.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 104,537 shares of company stock valued at $37,540,837. Corporate insiders own 0.12% of the company's stock.

Visa Stock Down 0.2%

V opened at $374.46 on Monday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $385.57. The company has a market cap of $668.20 billion, a PE ratio of 31.84, a price-to-earnings-growth ratio of 2.01 and a beta of 0.76. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The company has a 50 day moving average of $363.63 and a 200 day moving average of $333.40.

Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.23 by $0.09. The business had revenue of $11.63 billion for 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 business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.98 EPS. On average, sell-side analysts expect that Visa Inc. will post 13.16 EPS for the current year.

Visa Dividend Announcement

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

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.

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