City Holding Co. Increases Holdings in Visa Inc. (NYSE:V)

by · The Cerbat Gem

City Holding Co. raised its stake in Visa Inc. (NYSE:V – Free Report) by 0.2% during the 4th quarter, HoldingsChannel reports. The firm owned 27,118 shares of the credit-card processor’s stock after acquiring an additional 61 shares during the quarter. Visa accounts for about 1.2% of City Holding Co.’s portfolio, making the stock its 15th largest position. City Holding Co.’s holdings in Visa were worth $8,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of V. International Assets Investment Management LLC grew its holdings in Visa by 45,189.4% during the 3rd quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after purchasing an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC boosted its position in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock valued at $1,119,725,000 after buying an additional 4,166,905 shares during the last quarter. State Street Corp grew its stake in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC increased its position in shares of Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler lifted their price objective on Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer lifted their price target on shares of Visa from $321.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Barclays increased their price objective on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods boosted their target price on shares of Visa from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $331.92.

Check Out Our Latest Report on Visa

Visa Stock Performance

Shares of V opened at $319.97 on Tuesday. The firm has a market capitalization of $596.06 billion, a PE ratio of 32.88, a P/E/G ratio of 2.06 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $313.41 and a 200 day moving average price of $288.73. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $321.61.

Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm posted $2.33 earnings per share. The business’s revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 11.22 earnings per share for the current fiscal year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a $0.59 dividend. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Insider Buying and Selling at Visa

In related news, insider Paul D. Fabara sold 2,171 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.

See Also

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