Visa Inc. (NYSE:V) Stock Position Reduced by Lmcg Investments LLC

by · The Markets Daily

Lmcg Investments LLC cut its stake in shares of Visa Inc. (NYSE:V – Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,671 shares of the credit-card processor’s stock after selling 1,959 shares during the period. Visa comprises approximately 1.6% of Lmcg Investments LLC’s holdings, making the stock its 10th largest position. Lmcg Investments LLC’s holdings in Visa were worth $24,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Vanguard Group Inc. lifted its stake in shares of Visa by 4.6% in 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 buying an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Visa by 4.4% in 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 buying an additional 1,689,926 shares during the last quarter. Capital International Investors lifted its stake in shares of Visa by 3.8% in 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 during the last quarter. Capital World Investors lifted its stake in shares of Visa by 1.0% in 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 during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Visa by 18.0% in 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 during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

Visa stock opened at $368.04 on Thursday. 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 1 year low of $252.70 and a 1 year high of $371.75. The company has a market cap of $679.09 billion, a PE ratio of 37.10, a PEG ratio of 2.33 and a beta of 0.96. The company’s 50-day moving average is $344.66 and its two-hundred day moving average is $334.72.

Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the company posted $2.51 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

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

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Truist Financial initiated coverage on shares of Visa in a research note on Monday. They issued a “buy” rating and a $400.00 price objective for the company. Macquarie cut their target price on shares of Visa from $400.00 to $380.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday. They set a “neutral” rating for the company. Finally, UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $367.48.

Get Our Latest Analysis on Visa

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel now directly owns 11,925 shares of the company’s stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 26,413 shares of the company’s stock, valued at approximately $8,991,249.33. The trade was a 59.84% 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 worth $41,546,299 in 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.

See Also

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).