Ninety One North America Inc. Purchases 124,674 Shares of Visa Inc. $V

Ninety One North America Inc. lifted its position in shares of Visa Inc. (NYSE:V) by 40.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,639 shares of the credit-card processor’s stock after purchasing an additional 124,674 shares during the period. Visa accounts for 7.6% of Ninety One North America Inc.’s portfolio, making the stock its largest holding. Ninety One North America Inc.’s holdings in Visa were worth $153,964,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in shares of Visa by 50.1% during the 4th quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock worth $6,522,000 after buying an additional 6,883 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after buying an additional 4,817 shares during the period. Annex Advisory Services LLC boosted its holdings in shares of Visa by 2.8% during the 1st quarter. Annex Advisory Services LLC now owns 182,935 shares of the credit-card processor’s stock worth $64,111,000 after buying an additional 4,991 shares during the period. Vest Financial LLC boosted its holdings in shares of Visa by 25.5% during the 1st quarter. Vest Financial LLC now owns 141,927 shares of the credit-card processor’s stock worth $49,740,000 after buying an additional 28,870 shares during the period. Finally, Foster Group Inc. boosted its holdings in shares of Visa by 25.7% during the 1st quarter. Foster Group Inc. now owns 3,236 shares of the credit-card processor’s stock worth $1,134,000 after buying an additional 661 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

V stock opened at $349.90 on Friday. The company has a 50 day simple moving average of $343.78 and a 200 day simple moving average of $346.70. The stock has a market cap of $641.29 billion, a price-to-earnings ratio of 34.17, a P/E/G ratio of 2.05 and a beta of 0.90. Visa Inc. has a 1 year low of $273.24 and a 1 year high of $375.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.85 by $0.13. The business had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.42 EPS. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, August 12th. Visa’s dividend payout ratio is currently 23.05%.

Insider Buying and Selling

In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were 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 approximately $4,102,438.50. This represents a 14.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,815.10. This trade represents a 95.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on V. Truist Financial reduced their target price on shares of Visa from $400.00 to $397.00 and set a “buy” rating for the company in a report on Thursday, July 17th. Barclays reissued an “overweight” rating and issued a $408.00 price objective (up previously from $396.00) on shares of Visa in a report on Thursday, July 31st. Oppenheimer boosted their price objective on shares of Visa from $390.00 to $391.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Saturday, September 27th. Finally, Macquarie boosted their price objective on shares of Visa from $380.00 to $425.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $385.96.

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.