Visa Inc. $V Stock Holdings Decreased by Guinness Asset Management LTD

Guinness Asset Management LTD lessened its position in Visa Inc. (NYSE:V) by 4.6% in the 3rd quarter, Holdings Channel reports. The fund owned 138,963 shares of the credit-card processor’s stock after selling 6,699 shares during the period. Guinness Asset Management LTD’s holdings in Visa were worth $47,270,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Visa during the second quarter valued at approximately $7,034,939,000. TCI Fund Management Ltd. grew its holdings in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC increased its stake in shares of Visa by 110.4% in the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after acquiring an additional 2,075,289 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Visa by 0.9% in the second 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 during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Visa by 2.5% during the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Trading Down 0.3%

Shares of NYSE:V opened at $329.05 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.08 and a current ratio of 1.11. The stock’s 50-day moving average is $338.56 and its 200-day moving average is $341.08. The company has a market cap of $599.43 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.89 and a beta of 0.79. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:V) last posted its quarterly earnings data 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. The company had revenue of $10.90 billion during the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.Visa’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.75 earnings per share. Equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. 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 payout ratio is 25.14%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Robert W. Baird set a $425.00 target price on Visa in a research note on Wednesday, October 29th. Evercore ISI set a $380.00 price target on Visa in a report on Friday, December 12th. Morgan Stanley restated an “overweight” rating and issued a $411.00 price objective (up previously from $398.00) on shares of Visa in a report on Friday, January 30th. Wells Fargo & Company raised shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Piper Sandler set a $160.00 target price on shares of Visa in a research note on Wednesday, January 28th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $392.00.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company’s stock.

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.