Visa Inc. $V is Blacksheep Fund Management Ltd’s 2nd Largest Position

Blacksheep Fund Management Ltd increased its stake in Visa Inc. (NYSE:V) by 85.2% during the 2nd quarter, Holdings Channel reports. The firm owned 186,550 shares of the credit-card processor’s stock after purchasing an additional 85,840 shares during the quarter. Visa comprises approximately 20.7% of Blacksheep Fund Management Ltd’s portfolio, making the stock its 2nd biggest holding. Blacksheep Fund Management Ltd’s holdings in Visa were worth $64,003,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parvin Asset Management LLC increased its holdings in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Philadelphia Investment Partners LLC purchased a new stake in shares of Visa during the 2nd quarter valued at $29,000. Virtus Advisers LLC bought a new stake in shares of Visa during the 2nd quarter worth $33,000. RHL Group LLC bought a new stake in shares of Visa during the 4th quarter worth $34,000. Finally, Timmons Wealth Management LLC purchased a new position in Visa in the fourth quarter worth $34,000. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

V opened at $374.46 on Monday. The stock’s 50 day simple moving average is $363.63 and its 200 day simple moving average is $333.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.99. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $385.57. The firm has a market cap of $668.20 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 2.01 and a beta of 0.76.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, July 28th. The credit-card processor reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to the consensus estimate of $11.40 billion. Visa had a return on equity of 67.68% and a net margin of 50.78%.The business’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.98 earnings per share. As a group, analysts predict that Visa Inc. will post 13.16 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 11th. Visa’s payout ratio is presently 22.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on V. Piper Sandler reissued an “overweight” rating and issued a $430.00 target price (up from $394.00) on shares of Visa in a research note on Wednesday, July 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $466.00 price target (up from $412.00) on shares of Visa in a research note on Monday, August 31st. Robert W. Baird upped their price objective on Visa from $412.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Erste Group Bank upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, July 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $430.00 price objective on shares of Visa in a report on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $416.62.

Insider Buying and Selling

In other Visa news, insider Tullier Mahon sold 57,272 shares of the firm’s 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 owned 49,662 shares of the company’s stock, valued at $18,125,140.14. This trade represents a 53.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 20,970 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $340.25, for a total transaction of $7,135,042.50. Following the completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,162,953.50. The trade was a 58.02% 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 104,537 shares of company stock valued at $37,540,837 over the last three months. 0.12% of the stock is owned by company insiders.

About Visa

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.