Victory Capital Management Inc. Grows Stake in Visa Inc. $V

Victory Capital Management Inc. increased its position in Visa Inc. (NYSE:V) by 13.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,391,626 shares of the credit-card processor’s stock after purchasing an additional 537,529 shares during the period. Visa accounts for 0.9% of Victory Capital Management Inc.’s portfolio, making the stock its 10th biggest position. Victory Capital Management Inc. owned approximately 0.24% of Visa worth $1,442,107,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in V. Sagard Holdings Management Inc. bought a new stake in Visa during the second quarter worth about $31,000. Bare Financial Services Inc boosted its position in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock worth $32,000 after purchasing an additional 66 shares in the last quarter. Winnow Wealth LLC purchased a new stake in shares of Visa in the 2nd quarter worth approximately $40,000. Decker Retirement Planning Inc. bought a new position in Visa during the 2nd quarter valued at approximately $41,000. Finally, Moisand Fitzgerald Tamayo LLC raised its stake in Visa by 344.8% during the third quarter. Moisand Fitzgerald Tamayo LLC now owns 129 shares of the credit-card processor’s stock valued at $44,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.2%

Shares of V opened at $320.76 on Tuesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50 day simple moving average is $332.37 and its 200-day simple moving average is $337.92. The stock has a market capitalization of $582.24 billion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78.

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

Visa Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on V. TD Cowen reissued a “buy” rating on shares of Visa in a research note on Friday, January 30th. Piper Sandler set a $160.00 price objective on shares of Visa in a research report on Wednesday, January 28th. UBS Group reaffirmed a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Finally, Rothschild & Co Redburn set a $385.00 price objective on shares of Visa in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $391.43.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction dated Friday, January 2nd. The shares were 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 owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

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.