C WorldWide Group Holding A S Lowers Stake in Visa Inc. (NYSE:V)

by · The Cerbat Gem

C WorldWide Group Holding A S cut its holdings in Visa Inc. (NYSE:V – Free Report) by 1.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,210,444 shares of the credit-card processor’s stock after selling 43,031 shares during the period. Visa makes up 9.6% of C WorldWide Group Holding A S’s investment portfolio, making the stock its largest position. C WorldWide Group Holding A S’s holdings in Visa were worth $774,672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Lakeridge Wealth Management LLC lifted its holdings in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor’s stock valued at $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC bought a new position in Visa in the 4th quarter worth $306,000. Aptus Capital Advisors LLC raised its holdings in Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares during the period. Eagle Strategies LLC raised its holdings in Visa by 2.5% in the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor’s stock worth $811,000 after purchasing an additional 63 shares during the period. Finally, Rafferty Asset Management LLC raised its holdings in Visa by 7.7% in the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor’s stock worth $192,948,000 after purchasing an additional 43,546 shares during the period. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on V shares. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Oppenheimer raised their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a report on Wednesday, July 2nd. Piper Sandler raised 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. Truist Financial cut their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday. Finally, BMO Capital Markets increased their price target on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Five research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $375.52.

Read Our Latest Stock Report on Visa

Visa Trading Down 0.4%

NYSE V traded down $1.41 during trading on Friday, hitting $348.40. The stock had a trading volume of 1,065,213 shares, compared to its average volume of 6,776,091. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $642.85 billion, a price-to-earnings ratio of 35.02, a P/E/G ratio of 2.37 and a beta of 0.92. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The stock has a 50 day simple moving average of $356.90 and a 200 day simple moving average of $343.40.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

Insider Activity at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Mcinerney sold 8,630 shares of the company’s 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 transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 over the last ninety days. 0.13% of the stock is owned by company insiders.

About Visa

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).