Northcape Capital Pty Ltd Has $2.98 Million Stake in Visa Inc. (NYSE:V)

Northcape Capital Pty Ltd reduced its position in shares of Visa Inc. (NYSE:V) by 26.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 9,438 shares of the credit-card processor’s stock after selling 3,458 shares during the period. Visa accounts for 0.5% of Northcape Capital Pty Ltd’s investment portfolio, making the stock its 13th biggest position. Northcape Capital Pty Ltd’s holdings in Visa were worth $2,983,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC increased its stake in Visa by 45,189.4% in 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 buying an additional 9,736,958 shares during the period. SG Americas Securities LLC grew its holdings in shares of Visa by 4,412.3% during 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 acquiring an additional 4,166,905 shares in the last quarter. State Street Corp increased its stake in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the last quarter. FMR LLC raised its holdings 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in Visa by 7.7% during 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. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on shares of Visa from $325.00 to $360.00 and gave the company an “overweight” rating in a research report on Friday, January 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Piper Sandler raised their target price on Visa from $319.00 to $322.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets boosted their price target on Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $329.70.

Visa Stock Down 0.4 %

V opened at $311.84 on Wednesday. The company has a market capitalization of $580.92 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s fifty day moving average price is $310.90 and its two-hundred day moving average price is $286.27. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $321.61.

Visa (NYSE:V) last issued its earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 EPS. On average, analysts anticipate that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were paid a $0.59 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa’s dividend payout ratio is currently 24.25%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 currently owned by insiders.

Visa Company Profile

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.