Boston Partners Has $148.66 Million Stock Position in Visa Inc. (NYSE:V)

Boston Partners lessened its stake in shares of Visa Inc. (NYSE:V) by 7.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 625,946 shares of the credit-card processor’s stock after selling 50,156 shares during the quarter. Boston Partners’ holdings in Visa were worth $148,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Schwartz Investment Counsel Inc. grew its stake in shares of Visa by 8.9% during the second quarter. Schwartz Investment Counsel Inc. now owns 1,470 shares of the credit-card processor’s stock worth $349,000 after buying an additional 120 shares during the last quarter. Pacific Center for Financial Services grew its stake in shares of Visa by 83.8% during the second quarter. Pacific Center for Financial Services now owns 4,359 shares of the credit-card processor’s stock worth $1,035,000 after buying an additional 1,988 shares during the last quarter. Pragma Gestao DE Patrimonio Ltd. grew its stake in shares of Visa by 20.6% during the second quarter. Pragma Gestao DE Patrimonio Ltd. now owns 41,000 shares of the credit-card processor’s stock worth $9,737,000 after buying an additional 7,000 shares during the last quarter. McGowan Group Asset Management Inc. grew its stake in shares of Visa by 5.2% during the second quarter. McGowan Group Asset Management Inc. now owns 24,865 shares of the credit-card processor’s stock worth $5,905,000 after buying an additional 1,234 shares during the last quarter. Finally, Bowie Capital Management LLC grew its stake in shares of Visa by 49.9% during the second quarter. Bowie Capital Management LLC now owns 158,914 shares of the credit-card processor’s stock worth $37,739,000 after buying an additional 52,870 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on V. Truist Financial boosted their price objective on shares of Visa from $270.00 to $275.00 in a research note on Wednesday, July 26th. Citigroup boosted their price objective on shares of Visa from $273.00 to $275.00 in a research note on Wednesday, July 26th. Wells Fargo & Company boosted their price objective on shares of Visa from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Robert W. Baird reissued an “outperform” rating and issued a $284.00 price objective on shares of Visa in a research note on Thursday, September 14th. Finally, KeyCorp upped their price target on shares of Visa from $265.00 to $275.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $275.67.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total value of $2,016,880.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $247.47, for a total transaction of $2,016,880.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the transaction, the chairman now directly owns 139,854 shares of the company’s stock, valued at $33,025,123.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,100 shares of company stock valued at $17,368,639. Corporate insiders own 0.22% of the company’s stock.

Visa Trading Up 0.4 %

V opened at $249.57 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49. Visa Inc. has a fifty-two week low of $202.13 and a fifty-two week high of $250.24. The firm has a market capitalization of $464.66 billion, a PE ratio of 30.10, a P/E/G ratio of 1.66 and a beta of 0.95. The company’s 50-day moving average is $238.42 and its 200 day moving average is $236.12.

Visa (NYSE:V) last posted its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.10. Visa had a net margin of 52.90% and a return on equity of 50.13%. The company had revenue of $8.61 billion for the quarter, compared to analyst estimates of $8.56 billion. During the same quarter in the prior year, the business posted $1.93 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 9.9 earnings per share for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.83%. This is an increase from Visa’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 8th. Visa’s dividend payout ratio is presently 25.09%.

About Visa

Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.