Twin Capital Management Inc. Sells 7,472 Shares of Visa Inc. $V

Twin Capital Management Inc. lowered its holdings in Visa Inc. (NYSE:V) by 23.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,727 shares of the credit-card processor’s stock after selling 7,472 shares during the quarter. Visa accounts for about 1.0% of Twin Capital Management Inc.’s investment portfolio, making the stock its 13th largest position. Twin Capital Management Inc.’s holdings in Visa were worth $8,100,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. Sonoma Allocations LLC bought a new position in Visa in the third quarter valued at about $710,000. AQR Capital Management LLC raised its holdings in Visa by 1.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor’s stock worth $438,196,000 after purchasing an additional 21,401 shares during the last quarter. Baltimore Washington Financial Advisors Inc. lifted its position in Visa by 5.9% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor’s stock valued at $33,783,000 after purchasing an additional 5,295 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in Visa by 2.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor’s stock valued at $198,596,000 after purchasing an additional 14,581 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Visa by 24.1% in the 3rd quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor’s stock valued at $281,045,000 after purchasing an additional 159,906 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Trading Up 0.8%

NYSE:V opened at $331.82 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.08. The business’s 50-day simple moving average is $338.50 and its 200-day simple moving average is $340.95. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The stock has a market capitalization of $604.49 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.79.

Visa (NYSE:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period last year, the company posted $2.75 EPS. The business’s quarterly revenue was up 14.6% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors 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 dividend payout ratio is presently 25.14%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of Visa stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup raised shares of Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded shares of Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Truist Financial set a $374.00 price target on Visa in a research report on Tuesday, January 20th. Bank of America raised Visa from a “neutral” rating to a “buy” rating and set a $382.00 price objective for the company in a research note on Thursday, December 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $411.00 target price (up previously from $398.00) on shares of Visa in a research note on Friday, January 30th. Six research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $392.29.

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.