VeraBank N.A. Has $1.94 Million Stock Position in Visa Inc. $V

VeraBank N.A. grew its stake in shares of Visa Inc. (NYSE:V) by 243.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,459 shares of the credit-card processor’s stock after buying an additional 3,870 shares during the quarter. VeraBank N.A.’s holdings in Visa were worth $1,938,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nuveen LLC acquired a new position in Visa in the 1st quarter worth about $3,518,533,000. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% during the first quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock valued at $56,452,949,000 after purchasing an additional 1,677,088 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Visa by 17.7% during the first quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Visa in the first quarter valued at approximately $373,240,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Visa by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor’s stock valued at $5,003,569,000 after buying an additional 955,392 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.

Visa Price Performance

Shares of NYSE V opened at $338.67 on Wednesday. The company has a market capitalization of $620.72 billion, a PE ratio of 33.17, a P/E/G ratio of 2.03 and a beta of 0.87. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The firm has a fifty day simple moving average of $342.94 and a 200 day simple moving average of $348.85.

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

Visa Increases Dividend

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

Insider Buying and Selling

In other Visa news, Director Lloyd Carney sold 900 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the transaction, the director directly owned 2,468 shares in the company, valued at approximately $830,432.64. This represents a 26.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company’s stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,897 shares of company stock valued at $8,164,561 over the last 90 days. Company insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on V shares. Barclays reissued an “overweight” rating and set a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Macquarie reduced their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Erste Group Bank downgraded Visa from a “buy” rating to a “hold” rating in a report on Monday, September 22nd. Truist Financial lowered their target price on Visa from $400.00 to $397.00 and set a “buy” rating for the company in a research report on Thursday, July 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $400.00.

About Visa

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.