SVB Wealth LLC Trims Stock Holdings in Visa Inc. $V

SVB Wealth LLC reduced its holdings in shares of Visa Inc. (NYSE:V) by 4.4% in the third quarter, Holdings Channel.com reports. The fund owned 56,546 shares of the credit-card processor’s stock after selling 2,611 shares during the quarter. Visa comprises about 1.0% of SVB Wealth LLC’s portfolio, making the stock its 22nd largest holding. SVB Wealth LLC’s holdings in Visa were worth $19,304,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares during the period. Norges Bank bought a new position in Visa in the second quarter worth approximately $7,034,939,000. TCI Fund Management Ltd. grew its stake in Visa by 14.6% in the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Visa by 1.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on V shares. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 target price (up from $398.00) on shares of Visa in a report on Wednesday, October 29th. Daiwa America upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Piper Sandler set a $160.00 price target on shares of Visa in a report on Wednesday, January 28th. Robert W. Baird set a $425.00 price target on shares of Visa in a research report on Wednesday, October 29th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 price objective on shares of Visa in a report on Friday, January 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and an average target price of $392.29.

Visa Trading Down 1.8%

NYSE V opened at $325.48 on Tuesday. Visa Inc. has a 52 week low of $299.00 and a 52 week high of $375.51. The company has a 50 day moving average price of $338.40 and a 200 day moving average price of $340.57. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. The firm has a market cap of $590.80 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.79.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.75 earnings per share. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio is currently 25.14%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the sale, the insider owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. The trade was a 52.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.12% of the company’s stock.

Visa 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.