Watchman Group Inc. Has $5.28 Million Stock Holdings in Visa Inc. (NYSE:V)

Key Points

• Watchman Group Inc. reduced its holdings in Visa Inc. by 13.5%, now holding $5.28 million in stock, making Visa its 16th largest position.
• Several hedge funds have significantly increased their stakes in Visa, with GAMMA Investing LLC expanding its position by 38,416.3%, now owning shares valued at $5.17 billion.
• Analysts have raised their price targets for Visa, with Jefferies Financial Group setting a new target at $410.00 and UBS Group at $415.00, reflecting strong buy ratings from multiple firms.

Watchman Group Inc. lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 13.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,074 shares of the credit-card processor's stock after selling 2,361 shares during the quarter. Visa accounts for 1.5% of Watchman Group Inc.'s holdings, making the stock its 16th biggest position. Watchman Group Inc.'s holdings in Visa were worth $5,283,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Visa by 38,416.3% during 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 in the last quarter. Nuveen LLC bought a new position in shares of Visa in the first quarter valued at $3,518,533,000. Northern Trust Corp grew its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Visa in the fourth quarter valued at $673,689,000. Finally, Kovitz Investment Group Partners LLC grew its stake in shares of Visa by 295.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock valued at $746,550,000 after buying an additional 1,764,781 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

V has been the subject of several analyst reports. Jefferies Financial Group raised their target price on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research note on Tuesday, May 27th. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. UBS Group reissued a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Morgan Stanley raised their target price on shares of Visa from $386.00 to $402.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.

Insider Transactions at Visa

In related news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by insiders.

Visa Stock Up 0.9%

V opened at $345.53 on Friday. Visa Inc. has a fifty-two week low of $262.84 and a fifty-two week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $633.27 billion, a P/E ratio of 33.74, a P/E/G ratio of 2.28 and a beta of 0.94. The stock has a fifty day moving average of $350.69 and a 200-day moving average of $347.27.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. Visa's revenue for the quarter 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. On average, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

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

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