WP Advisors LLC Has $8.47 Million Stake in Visa Inc. (NYSE:V)

Key Points

• WP Advisors LLC increased its stake in Visa by 4.3% during the first quarter, holding a total of 24,164 shares worth approximately $8.47 million.
• Visa received multiple upgrades from analysts, with UBS raising its target price to $415.00 and the stock holding a consensus rating of "Moderate Buy."
• Insider trading activity included CEO Ryan Mcinerney selling 8,630 shares, indicating significant changes in personal holdings and confidence levels among executives.

WP Advisors LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 4.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,164 shares of the credit-card processor's stock after acquiring an additional 1,000 shares during the quarter. Visa accounts for about 2.8% of WP Advisors LLC's holdings, making the stock its 9th largest position. WP Advisors LLC's holdings in Visa were worth $8,469,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of V. GAMMA Investing LLC lifted its position 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 buying an additional 14,723,050 shares during the period. Nuveen LLC bought a new position in shares of Visa during the 1st quarter worth approximately $3,518,533,000. Northern Trust Corp lifted its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Visa during the 4th quarter worth approximately $673,689,000. Finally, Sanders Capital LLC bought a new position in shares of Visa during the 4th quarter worth approximately $623,022,000. Institutional investors own 82.15% of the company's stock.

Wall Street Analysts Forecast Growth

V has been the subject of several research reports. 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. Citigroup started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Raymond James Financial restated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $380.84.

Insider Activity at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were 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 approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,100 shares of company stock worth $27,643,224. 0.13% of the stock is owned by company insiders.

Visa Stock Performance

Shares of V opened at $336.86 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 stock has a 50 day moving average price of $352.79 and a two-hundred day moving average price of $347.26. The firm has a market capitalization of $617.39 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.25 and a beta of 0.94. Visa Inc. has a 52 week low of $258.74 and a 52 week high of $375.51.

Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, topping 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 firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company posted $2.42 EPS. The company's revenue for the quarter was up 14.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed 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. 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 is presently 23.05%.

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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