Visa Inc. $V Shares Acquired by Soroban Capital Partners LP

Soroban Capital Partners LP lifted its stake in shares of Visa Inc. (NYSE:V) by 19.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,961,240 shares of the credit-card processor’s stock after buying an additional 476,622 shares during the quarter. Visa accounts for approximately 1.7% of Soroban Capital Partners LP’s holdings, making the stock its 7th largest holding. Soroban Capital Partners LP owned about 0.17% of Visa worth $895,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Visa by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor’s stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the period. State Street Corp lifted its position in shares of Visa by 0.8% during the fourth quarter. State Street Corp now owns 82,798,151 shares of the credit-card processor’s stock worth $29,038,140,000 after purchasing an additional 626,821 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Visa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 44,042,586 shares of the credit-card processor’s stock valued at $15,411,395,000 after purchasing an additional 388,996 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Visa by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 41,092,294 shares of the credit-card processor’s stock valued at $14,411,480,000 after purchasing an additional 716,218 shares during the period. Finally, Bank of America Corp DE grew its holdings in Visa by 1.7% during the 4th quarter. Bank of America Corp DE now owns 23,835,336 shares of the credit-card processor’s stock valued at $8,359,291,000 after purchasing an additional 398,459 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

V has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Weiss Ratings raised shares of Visa from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, July 6th. BNP Paribas Exane upgraded Visa to a “strong-buy” rating in a research note on Tuesday, July 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $387.00 target price (up from $375.00) on shares of Visa in a research report on Wednesday, July 15th. Finally, Truist Financial lifted their target price on Visa from $371.00 to $394.00 and gave the stock a “buy” rating in a research report on Friday. Eight research analysts have rated the stock with a Strong Buy rating and nineteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $399.41.

Visa Stock Performance

Shares of Visa stock opened at $362.37 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.14. The firm’s 50-day simple moving average is $338.16 and its 200-day simple moving average is $325.18. The firm has a market cap of $650.01 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 1.89 and a beta of 0.75.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping analysts’ consensus estimates of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.76 earnings per share. Equities analysts forecast that Visa Inc. will post 13.12 earnings per share for the current fiscal year.

Visa declared that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $360.00, for a total value of $729,720.00. Following the completion of the transaction, the general counsel owned 18,404 shares in the company, valued at approximately $6,625,440. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares of the company’s stock, valued at $3,206,524.32. This trade represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 75,581 shares of company stock worth $25,627,975 over the last quarter. 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.