Payden & Rygel Has $18.81 Million Stake in Visa Inc. $V

Payden & Rygel lowered its position in Visa Inc. (NYSE:V) by 17.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,100 shares of the credit-card processor’s stock after selling 11,600 shares during the period. Visa accounts for 1.6% of Payden & Rygel’s portfolio, making the stock its 23rd largest holding. Payden & Rygel’s holdings in Visa were worth $18,810,000 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. Vanguard Group Inc. increased its stake in shares of Visa by 0.9% during 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 purchasing an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 worth $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank bought a new stake in Visa in the second quarter worth $7,034,939,000. TCI Fund Management Ltd. increased its position in Visa by 14.6% during 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 buying an additional 2,429,996 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Visa by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock valued at $4,552,057,000 after buying an additional 145,665 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on V. Daiwa Securities Group raised Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price objective on the stock in a report on Monday, February 2nd. TD Cowen reaffirmed a “buy” rating on shares of Visa in a research report on Friday, January 30th. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price target on shares of Visa in a research report on Friday, January 30th. UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Finally, Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a report on Tuesday, January 27th. 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 company. Based on data from MarketBeat, Visa currently has an average rating of “Buy” and an average target price of $391.43.

Visa Stock Up 0.6%

Shares of V stock opened at $320.90 on Monday. Visa Inc. has a 12 month low of $299.00 and a 12 month high of $375.51. 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 $582.49 billion, a PE ratio of 30.10, a price-to-earnings-growth ratio of 1.84 and a beta of 0.79. The stock has a 50 day moving average of $336.40 and a 200-day moving average of $338.95.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Visa’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.75 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company 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. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio (DPR) is 25.14%.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’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 transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.12% of the stock is owned by corporate insiders.

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.