Pacer Advisors Inc. Boosts Stake in Visa Inc. $V

Pacer Advisors Inc. increased its holdings in shares of Visa Inc. (NYSE:VFree Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 155,789 shares of the credit-card processor’s stock after acquiring an additional 16,169 shares during the quarter. Pacer Advisors Inc.’s holdings in Visa were worth $54,637,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in V. Vanguard Group Inc. raised its holdings in shares of Visa by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock worth $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. State Street Corp lifted its holdings in Visa by 0.8% during the 4th quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after purchasing an additional 626,821 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock worth $15,411,395,000 after buying an additional 388,996 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Visa by 1.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after purchasing an additional 716,218 shares during the period. Finally, Capital World Investors raised its position in shares of Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock worth $8,463,484,000 after buying an additional 193,288 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $327.67 on Friday. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66. The company has a 50 day simple moving average of $321.23 and a two-hundred day simple moving average of $324.24. The company has a market capitalization of $587.76 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $2.76 earnings per share. Analysts expect that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa announced that its Board of Directors has approved a share repurchase program on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa’s payout ratio is 23.34%.

Key Visa News

Here are the key news stories impacting Visa this week:

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on V. Weiss Ratings lowered shares of Visa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Raymond James Financial restated an “outperform” rating and set a $389.00 target price on shares of Visa in a report on Wednesday, April 29th. Truist Financial set a $371.00 price target on shares of Visa and gave the company a “buy” rating in a research report on Tuesday, May 12th. Evercore set a $350.00 price objective on Visa in a report on Wednesday, April 29th. Finally, UBS Group lifted their target price on shares of Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has a consensus rating of “Buy” and a consensus target price of $387.78.

Check Out Our Latest Report on V

Visa Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Visa (NYSE:V)

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