Visa Inc. $V is Victory Capital Management Inc.’s 10th Largest Position

Victory Capital Management Inc. boosted its position in Visa Inc. (NYSE:V) by 13.9% in the third quarter, HoldingsChannel.com reports. The firm owned 4,391,626 shares of the credit-card processor’s stock after acquiring an additional 537,529 shares during the period. Visa accounts for approximately 0.9% of Victory Capital Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Victory Capital Management Inc.’s holdings in Visa were worth $1,442,107,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Sonoma Allocations LLC purchased a new stake in Visa during the 3rd quarter worth approximately $710,000. AQR Capital Management LLC grew its holdings in shares of Visa by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock valued at $438,196,000 after buying an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in shares of Visa by 5.9% in the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after acquiring an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Visa by 2.6% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after acquiring an additional 14,581 shares during the period. Finally, Federated Hermes Inc. raised its stake in Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock worth $281,045,000 after acquiring an additional 159,906 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.12% of the company’s stock.

Visa Trading Up 0.2%

Shares of NYSE:V opened at $320.76 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The business has a 50 day moving average of $332.37 and a two-hundred day moving average of $337.92. The company has a market capitalization of $582.24 billion, a PE ratio of 30.09, a PEG ratio of 1.83 and a beta of 0.78.

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

Visa Dividend Announcement

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

Analysts Set New Price Targets

V has been the topic of several research analyst reports. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 16th. Daiwa Securities Group upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price on the stock in a research report on Monday, February 2nd. TD Cowen reissued a “buy” rating on shares of Visa in a research report on Friday, January 30th. Piper Sandler set a $160.00 price objective on shares of Visa in a research note on Wednesday, January 28th. Finally, HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $391.43.

About Visa

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.