Visa Inc. $V Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Visa Inc. (NYSE:V) by 0.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,897,420 shares of the credit-card processor’s stock after purchasing an additional 15,585 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Visa were worth $573,472,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. State Street Corp raised its position in shares of Visa by 0.8% in the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock valued at $29,038,140,000 after buying an additional 626,821 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock worth $14,411,480,000 after buying an additional 716,218 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Visa by 1.7% during the fourth quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock worth $8,359,291,000 after acquiring an additional 398,459 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on V. Robert W. Baird set a $412.00 price objective on shares of Visa and gave the company an “outperform” rating in a research note on Monday, July 6th. Barclays assumed coverage on shares of Visa in a research note on Tuesday, July 7th. They issued an “overweight” rating and a $420.00 target price on the stock. Raymond James Financial restated an “outperform” rating and set a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. BMO Capital Markets restated an “outperform” rating and issued a $387.00 price target (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Finally, Piper Sandler started coverage on Visa in a report on Monday, June 29th. They issued an “overweight” rating and a $394.00 price target for the company. Eight research analysts have rated the stock with a Strong Buy rating and nineteen have given a Buy rating to the company. Based on data from MarketBeat.com, Visa currently has a consensus rating of “Buy” and an average price target of $399.41.

Visa Trading Up 1.9%

Shares of V opened at $362.37 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $365.14. The firm has a 50-day moving average price of $338.16 and a 200 day moving average price of $325.18. The firm has a market capitalization of $650.01 billion, a P/E ratio of 31.57, a P/E/G ratio of 1.89 and a beta of 0.75.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. During the same period last year, the business earned $2.76 earnings per share. Visa’s revenue was up 17.1% compared to the same quarter last year. Sell-side analysts forecast that Visa Inc. will post 13.12 EPS for the current year.

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total transaction of $729,720.00. Following the sale, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,625,440. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the transaction, the chief financial officer owned 9,872 shares in the company, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,581 shares of company stock worth $25,627,975 in the last ninety days. 0.12% of the stock is owned by insiders.

Visa Company Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.