Magellan Asset Management Ltd Has $200.76 Million Stake in Visa Inc. $V

Magellan Asset Management Ltd decreased its holdings in Visa Inc. (NYSE:V) by 6.7% in the 1st quarter, HoldingsChannel reports. The firm owned 664,228 shares of the credit-card processor’s stock after selling 47,479 shares during the quarter. Visa accounts for approximately 2.6% of Magellan Asset Management Ltd’s portfolio, making the stock its 11th largest position. Magellan Asset Management Ltd’s holdings in Visa were worth $200,756,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Clayton Financial Group LLC increased its position in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock valued at $25,000 after acquiring an additional 58 shares in the last quarter. Parvin Asset Management LLC lifted its position in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. PayPay Securities Corp grew its stake in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares during the last quarter. Cresta Advisors Ltd. bought a new stake in shares of Visa during the fourth quarter valued at approximately $26,000. Finally, Dorato Capital Management acquired a new stake in shares of Visa in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Truist Financial set a $371.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Tuesday, May 12th. UBS Group increased their price objective on Visa from $390.00 to $410.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. BMO Capital Markets reissued an “outperform” rating and issued a $387.00 target price (up from $375.00) on shares of Visa in a research note on Wednesday, July 15th. Citigroup dropped their target price on Visa from $450.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. Finally, Weiss Ratings raised Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, July 6th. Eight equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Visa presently has an average rating of “Buy” and an average target price of $398.36.

Insider Activity

In related news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the sale, the chief financial officer directly owned 9,872 shares of the company’s stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the sale, the general counsel owned 18,404 shares of the company’s stock, valued at $6,625,440. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 75,581 shares of company stock valued at $25,627,975 in the last 90 days. 0.12% of the stock is owned by company insiders.

Visa Stock Down 1.3%

Shares of NYSE:V opened at $355.94 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $638.47 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.92 and a beta of 0.75. The company has a 50 day moving average of $335.74 and a 200-day moving average of $325.08. Visa Inc. has a one year low of $293.89 and a one year high of $365.14.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the prior year, the business posted $2.76 earnings per share. Visa’s revenue was up 17.1% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 13.13 earnings per share for the current year.

Visa Dividend Announcement

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

Visa declared that its board has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback $20.00 billion in shares. This buyback authorization authorizes the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.