Visa Inc. $V Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 10.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 310,501 shares of the credit-card processor’s stock after acquiring an additional 30,182 shares during the quarter. Visa comprises 0.8% of QRG Capital Management Inc.’s holdings, making the stock its 23rd biggest position. QRG Capital Management Inc.’s holdings in Visa were worth $106,530,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Envestnet Portfolio Solutions Inc. boosted its position in shares of Visa by 21.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 153,432 shares of the credit-card processor’s stock valued at $52,629,000 after purchasing an additional 27,224 shares during the period. State Street Corp raised its holdings in Visa by 0.7% during the 2nd quarter. State Street Corp now owns 82,872,209 shares of the credit-card processor’s stock worth $28,432,626,000 after buying an additional 566,194 shares during the period. Talon Private Wealth LLC raised its holdings in Visa by 100.7% during the 2nd quarter. Talon Private Wealth LLC now owns 14,479 shares of the credit-card processor’s stock worth $4,968,000 after buying an additional 7,265 shares during the period. Marathon Wealth Advisors LLC lifted its stake in Visa by 1.3% during 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 in the last quarter. Finally, U S Wealth Group LLC. boosted its holdings in shares of Visa by 18.7% in the second quarter. U S Wealth Group LLC. now owns 8,866 shares of the credit-card processor’s stock worth $3,042,000 after buying an additional 1,399 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on V shares. Royal Bank Of Canada restated an “outperform” rating and set a $466.00 price target (up from $412.00) on shares of Visa in a report on Monday, August 31st. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $432.00 price objective (up from $412.00) on shares of Visa in a research note on Thursday, July 30th. Cantor Fitzgerald set a $445.00 price objective on shares of Visa and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Barclays initiated coverage on shares of Visa in a research note on Tuesday, July 7th. They set an “overweight” rating and a $420.00 target price on the stock. Finally, Robert W. Baird raised their target price on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Seven research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $416.62.

Visa Stock Down 0.2%

Shares of V traded down $0.67 during trading hours on Wednesday, reaching $361.37. The company’s stock had a trading volume of 5,125,151 shares, compared to its average volume of 7,716,233. The company has a 50 day moving average of $367.93 and a two-hundred day moving average of $337.88. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market cap of $644.84 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.98 and a beta of 0.76. Visa Inc. has a 1-year low of $293.89 and a 1-year high of $385.57.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $11.40 billion. During the same period last year, the company posted $2.98 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. As a group, research analysts predict that Visa Inc. will post 13.16 EPS for the current fiscal year.

Visa Dividend Announcement

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

Insider Buying and Selling at Visa

In related news, General Counsel Julie B. Rottenberg sold 1,867 shares of the stock in a transaction on 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 sale, the general counsel directly owned 18,404 shares in the company, valued at approximately $6,778,929.36. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Tullier Mahon sold 57,272 shares of Visa stock in a transaction 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 sale, the insider directly owned 49,662 shares of the company’s stock, valued at approximately $18,125,140.14. The trade was a 53.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 106,404 shares of company stock valued at $38,228,528 in the last quarter. Company insiders own 0.12% of the company’s stock.

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

• Positive Sentiment: Brokerages maintain an average “Buy” rating on Visa, supporting investor confidence in the company’s earnings outlook and long-term growth prospects. Visa Inc. Given Average Rating of Buy by Brokerages
• Positive Sentiment: Visa and travel-platform Klook signed a memorandum of understanding covering six Southeast Asian markets. The agreement is expected to support card usage through travel offers, creator programs and in-destination promotions, although it does not disclose a material financial commitment. Klook and Visa Partner Across Six Southeast Asian Markets
• Positive Sentiment: Visa is supporting Moov’s new Moov Money real-time person-to-person payment service, expanding the potential use of eligible Visa debit cards for digital money transfers. Visa and Mastercard Help Moov Launch P2P Payment Solution
• Positive Sentiment: Visa’s blockchain strategy is gaining attention after reportedly processing $20 billion in stablecoin transactions and joining Circle’s Arc blockchain as a founding validator. The move could strengthen Visa’s position in stablecoin infrastructure and digital settlement services. Visa Settled $20B in Stablecoins
• Positive Sentiment: UPT plans to use Visa’s Currencycloud and Visa Direct capabilities to offer corporate customers virtual euro and pound IBANs, potentially increasing cross-border payment volume and services revenue. UPT to Launch Virtual IBAN Service

Visa Company Profile

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.