Visa Inc. $V Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. cut its stake in shares of Visa Inc. (NYSE:V) by 12.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,113,894 shares of the credit-card processor’s stock after selling 300,170 shares during the quarter. Visa makes up 3.8% of Mawer Investment Management Ltd.’s portfolio, making the stock its 7th largest holding. Mawer Investment Management Ltd.’s holdings in Visa were worth $750,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Keystone Global Partners LLC bought a new stake in Visa in the first quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new position in shares of Visa during the second quarter worth about $28,000. Harbor Asset Planning Inc. acquired a new stake in shares of Visa in the 2nd quarter worth about $29,000. Cranbrook Wealth Management LLC lifted its position in Visa by 82.0% in the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP acquired a new position in Visa during the 2nd quarter valued at about $36,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research note on Thursday, July 17th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Macquarie cut their target price on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They issued a “buy” rating and a $410.00 price target for the company. Finally, Robert W. Baird set a $425.00 price target on Visa in a report on Wednesday, October 29th. Four research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $400.00.

Insider Buying and Selling

In related news, Director Lloyd Carney sold 900 shares of the stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total value of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares in the company, valued at $830,432.64. This trade represents a 26.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,897 shares of company stock worth $8,164,561 in the last three months. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

NYSE:V opened at $338.67 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. The business’s 50-day moving average price is $342.94 and its 200 day moving average price is $348.85. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51. The firm has a market cap of $620.72 billion, a P/E ratio of 33.17, a PEG ratio of 2.03 and a beta of 0.87.

Visa (NYSE:V) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analyst estimates of $10.60 billion. Visa had a net margin of 50.15% and a return on equity of 60.31%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. This is a boost from Visa’s previous quarterly dividend of $0.59. Visa’s dividend payout ratio is 23.11%.

Visa 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.