MRA Advisory Group Trims Position in Visa Inc. (NYSE:V)

by · The Cerbat Gem

MRA Advisory Group lessened its stake in shares of Visa Inc. (NYSE:V – Free Report) by 40.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,316 shares of the credit-card processor’s stock after selling 1,570 shares during the period. MRA Advisory Group’s holdings in Visa were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC increased its stake in Visa by 4.4% during the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors grew its position in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors grew its position in shares of Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Visa by 18.0% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Susquehanna reissued a “positive” rating on shares of Visa in a research report on Friday, March 21st. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 30th. Macquarie lowered their price target on Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Piper Sandler upped their price target on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.80.

Read Our Latest Stock Analysis on Visa

Visa Stock Down 0.4%

Shares of NYSE:V opened at $366.67 on Friday. The stock’s 50-day moving average price is $344.98 and its two-hundred day moving average price is $335.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The firm has a market cap of $676.56 billion, a price-to-earnings ratio of 36.96, a PEG ratio of 2.33 and a beta of 0.96.

Visa (NYSE:V – Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the company earned $2.51 EPS. The firm’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio is currently 23.72%.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the transaction, the insider now directly owns 26,413 shares of the company’s stock, valued at $8,991,249.33. The trade was a 59.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock valued at $41,546,299 in the last three months. Corporate insiders own 0.13% of the company’s stock.

Visa 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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