127,862 Shares in Visa Inc. $V Bought by Vancity Investment Management Ltd

by · The Cerbat Gem

Vancity Investment Management Ltd bought a new position in Visa Inc. (NYSE:V – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 127,862 shares of the credit-card processor’s stock, valued at approximately $44,811,000. Visa accounts for approximately 6.1% of Vancity Investment Management Ltd’s holdings, making the stock its 2nd biggest position.

Several other large investors have also made changes to their positions in the company. Keystone Global Partners LLC purchased a new position in Visa in the first quarter valued at about $26,000. von Borstel & Associates Inc. purchased a new position in Visa in the first quarter valued at about $27,000. 1 North Wealth Services LLC purchased a new position in Visa in the first quarter valued at about $38,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the fourth quarter valued at about $47,000. Finally, O Brien Wealth Partners LLC purchased a new position in Visa in the first quarter valued at about $54,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Down 2.3%

NYSE:V opened at $343.02 on Monday. The company has a market capitalization of $628.67 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.28 and a beta of 0.92. Visa Inc. has a one year low of $268.23 and a one year high of $375.51. The stock has a 50-day simple moving average of $348.51 and a 200 day simple moving average of $347.19. 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 (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, topping 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%.The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period last year, the firm earned $2.42 earnings per share. Sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were 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 was Tuesday, August 12th. Visa’s payout ratio is presently 23.05%.

Analysts Set New Price Targets

Several research analysts have commented on V shares. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. Oppenheimer lifted their target price on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Wall Street Zen raised Visa from a “hold” rating to a “buy” rating in a research report on Monday, May 12th. Jefferies Financial Group lifted their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley lifted their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $385.96.

Check Out Our Latest Stock Analysis on Visa

Insider Buying and Selling at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on 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 owned 537 shares of the company’s stock, 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 sold a total of 22,293 shares of company stock worth $8,114,295 over the last ninety days. Company insiders own 0.13% of the company’s stock.

Visa Company Profile

(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.

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