Woodline Partners LP Purchases 41,793 Shares of Visa Inc. $V

Woodline Partners LP grew its position in shares of Visa Inc. (NYSE:V) by 40.1% during the first quarter, Holdings Channel reports. The institutional investor owned 145,890 shares of the credit-card processor’s stock after purchasing an additional 41,793 shares during the quarter. Woodline Partners LP’s holdings in Visa were worth $51,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Yeomans Consulting Group Inc. raised its holdings in Visa by 2.9% during the 1st quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor’s stock valued at $360,000 after buying an additional 29 shares during the last quarter. Semus Wealth Partners LLC grew its holdings in Visa by 0.8% in the 1st quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor’s stock worth $1,209,000 after acquiring an additional 29 shares during the last quarter. Headinvest LLC increased its position in shares of Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor’s stock valued at $1,265,000 after acquiring an additional 30 shares during the period. Kennebec Savings Bank raised its stake in shares of Visa by 0.9% during the first quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor’s stock valued at $1,182,000 after acquiring an additional 30 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Visa by 0.8% during the first quarter. Capital Advisors Ltd. LLC now owns 3,839 shares of the credit-card processor’s stock valued at $1,345,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Julie B. Rottenberg sold 2,027 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel owned 11,925 shares of the company’s stock, valued at $4,102,438.50. The trade was a 14.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock valued at $8,114,295 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Visa Trading Down 0.2%

NYSE V opened at $342.45 on Tuesday. The firm has a market capitalization of $627.64 billion, a PE ratio of 33.44, a P/E/G ratio of 2.28 and a beta of 0.92. The stock’s 50 day moving average is $348.26 and its 200 day moving average is $347.15. Visa Inc. has a twelve month low of $268.23 and a twelve month high of $375.51. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Visa Announces Dividend

The firm also recently declared 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 of this dividend was Tuesday, August 12th. Visa’s dividend payout ratio (DPR) is 23.05%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial reissued an “outperform” rating on shares of Visa in a research note on Wednesday, July 30th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and upped their target price for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. Finally, Truist Financial reduced their price objective on shares of Visa from $400.00 to $397.00 and set a “buy” rating on the stock in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus 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.