Permanent Capital Management LP Decreases Holdings in Visa Inc. (NYSE:V)

Permanent Capital Management LP lowered its position in Visa Inc. (NYSE:V) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,568 shares of the credit-card processor’s stock after selling 432 shares during the period. Visa makes up about 0.3% of Permanent Capital Management LP’s investment portfolio, making the stock its 22nd biggest position. Permanent Capital Management LP’s holdings in Visa were worth $900,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of V. Norges Bank acquired a new stake in Visa in the 4th quarter valued at about $5,171,271,000. GAMMA Investing LLC raised its position in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 valued at $50,378,465,000 after purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa in the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Performance

NYSE V opened at $366.67 on Friday. The business’s 50-day simple moving average is $344.98 and its 200-day simple moving average is $335.10. The firm has a market capitalization of $676.56 billion, a P/E ratio of 36.96, a P/E/G ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $371.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share 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 firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the company posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

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

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total transaction of $3,127,077.40. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $194,807.49. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business’s stock in a transaction 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 transaction, the general counsel now directly 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. In the last 90 days, insiders have sold 121,948 shares of company stock worth $41,546,299. 0.13% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. William Blair reaffirmed an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Citigroup started coverage on Visa in a research report on Monday. They issued a “buy” rating on the stock. Mizuho raised Visa from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $359.00 to $425.00 in a research note on Thursday. UBS Group lifted their price objective on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Finally, Truist Financial started coverage on shares of Visa in a report on Monday. They issued a “buy” rating and a $400.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $372.80.

About Visa

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.