Westfield Capital Management Co. LP Purchases 4,745 Shares of Visa Inc. (NYSE:V)

Key Points

• Westfield Capital Management Co. LP increased its holdings in Visa Inc. by 0.5%, now owning 904,397 shares valued at approximately $317 million, making Visa its 10th largest holding.
• Insider selling has been observed, with Paul D. Fabara selling over 46,000 shares, representing a 63.63% decrease in his position, while CEO Ryan Mcinerney sold nearly 8,700 shares, a 94.14% decrease.
• Visa has recently announced a quarterly dividend of $0.59 per share, set to be paid on September 2nd, with a payout ratio of 23.05% and a current yield of 0.7%.

Westfield Capital Management Co. LP lifted its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 904,397 shares of the credit-card processor's stock after purchasing an additional 4,745 shares during the quarter. Visa accounts for 1.5% of Westfield Capital Management Co. LP's investment portfolio, making the stock its 10th largest holding. Westfield Capital Management Co. LP's holdings in Visa were worth $316,955,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in 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 valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Northern Trust Corp lifted its stake in Visa by 18.0% during the 4th 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 in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Visa during the 4th quarter valued at $673,689,000. Sanders Capital LLC bought a new position in Visa during the 4th quarter valued at $623,022,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in Visa by 295.4% during the 4th 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 acquiring an additional 1,764,781 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Visa news, insider Paul D. Fabara sold 46,214 shares of the firm'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 in the company, valued at $9,772,810. This trade represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated 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 owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,913 shares of company stock valued at $32,902,432. 0.13% of the stock is owned by corporate insiders.

Visa Stock Down 1.9%

V stock opened at $338.81 on Monday. 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 $625.16 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.26 and a beta of 0.94. Visa Inc. has a fifty-two week low of $254.51 and a fifty-two week high of $375.51. The stock has a fifty day moving average of $355.06 and a 200-day moving average of $346.75.

Visa (NYSE:V - Get Free Report) last issued its 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 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 the consensus estimate of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. The firm's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.

Wall Street Analyst Weigh In

V has been the topic of several recent analyst reports. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. William Blair restated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. UBS Group reaffirmed a "buy" rating and set a $415.00 target price (up from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Raymond James Financial reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday. Finally, Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $380.84.

Visa Company 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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