Magnus Financial Group LLC Has $5.44 Million Holdings in Visa Inc. (NYSE:V)

Magnus Financial Group LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 1.4% during the first quarter, HoldingsChannel.com reports. The fund owned 15,522 shares of the credit-card processor’s stock after selling 218 shares during the period. Magnus Financial Group LLC’s holdings in Visa were worth $5,440,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in 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 acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors grew its holdings in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors grew its holdings in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor’s stock worth $7,356,614,000 after purchasing an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Insider Transactions at Visa

In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% 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, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,807.49. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,948 shares of company stock valued at $41,546,299. 0.13% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on V. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 28th. Truist Financial started coverage on Visa in a report on Monday. They set a “buy” rating and a $400.00 target price on the stock. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They set an “in-line” rating and a $330.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday. They set a “neutral” rating 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 MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average target price of $372.80.

Visa Trading Down 0.4%

Shares of Visa stock opened at $366.67 on Friday. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $371.00. The stock’s 50-day simple moving average is $344.98 and its 200 day simple moving average is $335.10. The stock 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. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. The company’s quarterly revenue was up 9.3% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company 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. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Visa 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.