Visa Inc. $V Shares Bought by State Street Corp

State Street Corp raised its stake in Visa Inc. (NYSE:V) by 0.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 82,872,209 shares of the credit-card processor’s stock after purchasing an additional 566,194 shares during the period. Visa accounts for approximately 0.6% of State Street Corp’s holdings, making the stock its 29th biggest holding. State Street Corp owned 4.64% of Visa worth $28,432,626,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Talon Private Wealth LLC lifted its position in shares of Visa by 100.7% during the second quarter. Talon Private Wealth LLC now owns 14,479 shares of the credit-card processor’s stock worth $4,968,000 after purchasing an additional 7,265 shares during the last quarter. Marathon Wealth Advisors LLC increased its holdings in Visa by 1.3% in the second quarter. Marathon Wealth Advisors LLC now owns 18,744 shares of the credit-card processor’s stock valued at $6,431,000 after buying an additional 239 shares during the last quarter. U S Wealth Group LLC. raised its stake in Visa by 18.7% during the second quarter. U S Wealth Group LLC. now owns 8,866 shares of the credit-card processor’s stock valued at $3,042,000 after buying an additional 1,399 shares in the last quarter. Junto Capital Management LP bought a new position in Visa during the 2nd quarter worth approximately $158,480,000. Finally, Bouchey Financial Group Ltd. grew its position in shares of Visa by 15.5% in the 2nd quarter. Bouchey Financial Group Ltd. now owns 2,434 shares of the credit-card processor’s stock worth $835,000 after acquiring an additional 327 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on V. Wolfe Research reaffirmed an “outperform” rating and issued a $460.00 price target (up from $435.00) on shares of Visa in a report on Tuesday, August 25th. Clear Str upgraded shares of Visa to a “strong-buy” rating in a research note on Thursday, July 16th. Weiss Ratings raised shares of Visa from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. BNP Paribas Exane upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Truist Financial set a $406.00 target price on Visa and gave the company a “buy” rating in a report on Wednesday, August 5th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the stock. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Buy” and a consensus target price of $416.62.

Visa Trading Down 1.8%

NYSE V traded down $6.59 on Tuesday, hitting $363.36. 2,531,650 shares of the company were exchanged, compared to its average volume of 7,694,965. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $385.57. The firm has a market capitalization of $648.40 billion, a P/E ratio of 30.94, a price-to-earnings-growth ratio of 1.97 and a beta of 0.76. The company’s 50 day moving average price is $367.82 and its 200-day moving average price is $337.59.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.23 by $0.09. Visa had a net margin of 50.78% and a return on equity of 67.68%. The business had revenue of $11.63 billion for the quarter, compared to analyst estimates of $11.40 billion. During the same quarter in the previous year, the business earned $2.98 earnings per share. The firm’s revenue was up 14.4% compared to the same quarter last year. Analysts predict that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.79%.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 1,867 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $368.34, for a total transaction of $687,690.78. Following the completion of the transaction, the general counsel owned 18,404 shares of the company’s stock, valued at approximately $6,778,929.36. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $364.97, for a total value of $20,902,561.84. Following the completion of the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This trade represents a 53.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 106,404 shares of company stock worth $38,228,528. 0.12% of the stock is currently owned by insiders.

About Visa

Visa Inc is a global payments technology company that operates one of the world’s largest electronic payment networks. The company connects consumers, businesses, financial institutions and governments, enabling transactions through credit, debit, prepaid and commercial payment products. Visa generally does not issue cards, extend credit or set consumer interest rates; instead, it provides the network, technology and services that support payments.

Visa’s products and services include Visa-branded cards, digital payment solutions, tokenization, fraud prevention, risk management, data analytics and payment acceptance tools.