Visa Inc. $V Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its position in shares of Visa Inc. (NYSE:V) by 1.8% during the second quarter, HoldingsChannel.com reports. The firm owned 876,673 shares of the credit-card processor’s stock after selling 16,040 shares during the period. Visa makes up approximately 3.6% of Magellan Asset Management Ltd’s portfolio, making the stock its 8th biggest holding. Magellan Asset Management Ltd’s holdings in Visa were worth $311,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after acquiring an additional 1,677,088 shares during the last quarter. Northern Trust Corp raised its stake in shares of Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Visa by 7.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after acquiring an additional 955,392 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Visa by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor’s stock worth $4,442,157,000 after purchasing an additional 434,217 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Visa by 17.7% in the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on V shares. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley set a $398.00 price target on Visa and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research note on Thursday, July 17th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Macquarie reduced their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $400.00.

Visa Stock Down 0.3%

Shares of NYSE V opened at $335.91 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The firm has a market cap of $615.66 billion, a PE ratio of 32.90, a P/E/G ratio of 2.03 and a beta of 0.87. The company’s fifty day simple moving average is $343.52 and its 200 day simple moving average is $348.74. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. The firm had revenue of $10.72 billion for the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.71 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is an increase from Visa’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is currently 23.11%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the transaction, the director owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred 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 sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 23,897 shares of company stock worth $8,164,561. Corporate insiders own 0.13% of the company’s stock.

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.