Visa Inc. (NYSE:V) Shares Sold by Montag & Caldwell LLC

Montag & Caldwell LLC cut its position in shares of Visa Inc. (NYSE:V) by 13.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,279 shares of the credit-card processor’s stock after selling 9,931 shares during the quarter. Visa accounts for 3.5% of Montag & Caldwell LLC’s portfolio, making the stock its 8th biggest holding. Montag & Caldwell LLC’s holdings in Visa were worth $17,396,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in shares of Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock valued at $1,296,820,000 after purchasing an additional 4,099,122 shares in the last quarter. Swedbank AB acquired a new position in Visa in the first quarter valued at about $511,321,000. GQG Partners LLC grew its stake in Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock worth $1,671,866,000 after buying an additional 1,715,686 shares during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Visa by 14,306.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after buying an additional 1,489,856 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock valued at $4,659,169,000 after acquiring an additional 1,323,238 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Visa Stock Up 0.7 %

V stock opened at $287.35 on Monday. The business’s fifty day moving average price is $268.29 and its two-hundred day moving average price is $273.16. The stock has a market capitalization of $523.64 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 2.01 and a beta of 0.96. Visa Inc. has a fifty-two week low of $227.78 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period last year, the firm earned $2.16 earnings per share. Visa’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Wall Street Analyst Weigh In

Several analysts have recently commented on V shares. TD Cowen decreased their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Citigroup decreased their price objective on Visa from $321.00 to $319.00 and set a “buy” rating for the company in a research note on Wednesday, July 24th. Bank of America restated a “neutral” rating and issued a $297.00 price objective (down previously from $305.00) on shares of Visa in a research report on Wednesday, July 10th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Finally, Evercore ISI lowered their price target on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $309.81.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at $148,687.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.