Wellington Management Group LLP Acquires 1,651,954 Shares of Visa Inc. $V

Key Points

• Wellington Management Group LLP has increased its stake in Visa Inc. by 17.7%, now holding over 10.9 million shares, which represents approximately 0.7% of its portfolio.
• Insider activity includes CEO Ryan McInerney selling 8,630 shares, reflecting a significant decrease in his ownership, while other insiders sold a total of 75,100 shares valued at over $27 million in the last quarter.
• Analysts have generally positive views on Visa, with multiple upgrades and a consensus price target of $380.84, alongside an expectation of strong earnings growth.

Wellington Management Group LLP grew its position in Visa Inc. (NYSE:V - Free Report) by 17.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,979,720 shares of the credit-card processor's stock after buying an additional 1,651,954 shares during the period. Visa accounts for about 0.7% of Wellington Management Group LLP's portfolio, making the stock its 18th largest position. Wellington Management Group LLP owned approximately 0.59% of Visa worth $3,847,953,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of V. GAMMA Investing LLC grew its stake in Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Nuveen LLC acquired a new stake in shares of Visa in the first quarter valued at approximately $3,518,533,000. Northern Trust Corp boosted its holdings 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 acquiring an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Visa during the fourth quarter worth $673,689,000. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Visa by 295.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock worth $746,550,000 after purchasing an additional 1,764,781 shares during the period. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was 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. The trade was a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock valued at $27,643,224 over the last quarter. Company insiders own 0.13% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on V shares. BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Macquarie lifted their price objective on Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Finally, Deutsche Bank Aktiengesellschaft started coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Five 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Stock Performance

Shares of NYSE:V opened at $344.44 on Monday. The company has a market cap of $631.29 billion, a P/E ratio of 33.64, a PEG ratio of 2.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a one year low of $265.23 and a one year high of $375.51. The business's 50-day simple moving average is $350.17 and its 200 day simple moving average is $347.44.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The company had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the business earned $2.42 EPS. Visa's revenue for the quarter was up 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared 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 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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