QRG Capital Management Inc. Raises Stock Holdings in Visa Inc. (NYSE:V)

QRG Capital Management Inc. boosted its holdings in Visa Inc. (NYSE:V) by 7.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 252,618 shares of the credit-card processor’s stock after purchasing an additional 17,745 shares during the period. Visa comprises 0.9% of QRG Capital Management Inc.’s portfolio, making the stock its 15th largest position. QRG Capital Management Inc.’s holdings in Visa were worth $88,533,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of V. Norges Bank purchased a new position in Visa in the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC lifted its holdings in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa in the 4th quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC raised its position in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Stock Up 0.7%

V opened at $355.23 on Tuesday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market cap of $655.46 billion, a P/E ratio of 35.81, a P/E/G ratio of 2.33 and a beta of 0.94. The stock’s 50 day moving average price is $350.71 and its 200 day moving average price is $338.05.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period last year, the firm earned $2.51 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 23.72%.

Analyst Upgrades and Downgrades

V has been the topic of several research analyst reports. Truist Financial initiated coverage on Visa in a research note on Monday, June 2nd. They set a “buy” rating and a $400.00 price objective on the stock. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 30th. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, Citigroup initiated coverage on Visa in a report on Monday, June 2nd. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $372.80.

Insider Activity

In other news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is owned by company insiders.

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.