14,836 Shares in Visa Inc. $V Acquired by SCS Capital Management LLC

SCS Capital Management LLC acquired a new position in Visa Inc. (NYSE:V) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,836 shares of the credit-card processor’s stock, valued at approximately $5,200,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of V. GAMMA Investing LLC grew its stake in Visa by 38,416.3% in 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 purchasing an additional 14,723,050 shares in the last quarter. Nuveen LLC purchased a new stake in Visa during the first quarter worth $3,518,533,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Visa during the fourth quarter worth $673,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Visa by 14.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,321,754 shares of the credit-card processor’s stock worth $4,210,207,000 after buying an additional 1,723,785 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V opened at $344.11 on Wednesday. Visa Inc. has a 12 month low of $268.23 and a 12 month high of $375.51. The stock has a fifty day moving average price of $348.03 and a 200-day moving average price of $347.13. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $630.68 billion, a PE ratio of 33.60, a P/E/G ratio of 2.28 and a beta of 0.92.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The firm had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business posted $2.42 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio is presently 23.05%.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,630 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

V has been the subject of a number of analyst reports. Jefferies Financial Group upped their target price on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They set a “buy” rating for the company. Morgan Stanley upped their target price on Visa from $386.00 to $402.00 and gave the stock an “overweight” rating in a report on Wednesday, July 30th. Macquarie upped their target price on Visa from $380.00 to $425.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $385.96.

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.