Davis R M Inc. Buys 1,949 Shares of Visa Inc. $V

Davis R M Inc. grew its stake in Visa Inc. (NYSE:V) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 293,172 shares of the credit-card processor’s stock after purchasing an additional 1,949 shares during the period. Visa comprises about 1.7% of Davis R M Inc.’s investment portfolio, making the stock its 14th biggest position. Davis R M Inc.’s holdings in Visa were worth $100,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Norges Bank bought a new position in Visa during the second quarter valued at about $7,034,939,000. TCI Fund Management Ltd. lifted its position in shares of Visa by 14.6% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares during the period. Corient Private Wealth LLC lifted its position in shares of Visa by 110.4% in the 2nd 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 period. Vanguard Group Inc. grew its holdings 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 in the last quarter. Finally, Geode Capital Management LLC increased its position 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 valued at $15,253,245,000 after purchasing an additional 1,067,631 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 9,401 shares in the company, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on V. Evercore set a $380.00 target price on Visa in a research report on Friday, December 12th. Truist Financial set a $372.00 price objective on shares of Visa in a research note on Tuesday, February 10th. Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Finally, HSBC raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $391.43.

Visa Trading Up 0.7%

Shares of V stock opened at $319.07 on Monday. The company has a market capitalization of $579.17 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.83 and a beta of 0.78. 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 50-day moving average price of $333.00 and a 200 day moving average price of $338.09.

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, topping the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion during 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%. The company’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the business posted $2.75 earnings per share. Research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

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

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.