Egerton Capital UK LLP Has $813.64 Million Stake in Visa Inc. $V

Egerton Capital UK LLP increased its position in Visa Inc. (NYSE:V) by 24.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,383,373 shares of the credit-card processor’s stock after purchasing an additional 473,058 shares during the quarter. Visa makes up 8.6% of Egerton Capital UK LLP’s holdings, making the stock its 3rd largest position. Egerton Capital UK LLP’s holdings in Visa were worth $813,636,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock valued at $57,711,249,000 after buying an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC raised its stake in Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. Norges Bank acquired a new stake in Visa during the 2nd quarter valued at $7,034,939,000. TCI Fund Management Ltd. boosted its position in Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Visa by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Stock Up 0.7%

NYSE V opened at $319.07 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51. The company has a market cap of $579.17 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 1.81 and a beta of 0.79. The company has a 50 day moving average of $333.00 and a 200-day moving average of $338.12. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a return on equity of 61.74% and a net margin of 50.23%.The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.75 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is 25.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on V. Freedom Capital raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, January 21st. Evercore set a $380.00 price objective on shares of Visa in a research report on Friday, December 12th. Rothschild & Co Redburn set a $385.00 target price on Visa in a research report on Wednesday, January 28th. Finally, Piper Sandler set a $160.00 price target on Visa in a report on Wednesday, January 28th. Seven research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $391.43.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.12% of the stock is owned by corporate 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.