Visa Inc. $V is Weitz Investment Management Inc.’s 4th Largest Position

Weitz Investment Management Inc. trimmed its stake in shares of Visa Inc. (NYSE:V) by 9.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 270,580 shares of the credit-card processor’s stock after selling 27,495 shares during the quarter. Visa accounts for approximately 5.0% of Weitz Investment Management Inc.’s portfolio, making the stock its 4th largest position. Weitz Investment Management Inc.’s holdings in Visa were worth $92,371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of V. Colonial Trust Co SC raised its holdings in Visa by 0.9% during the 3rd quarter. Colonial Trust Co SC now owns 30,804 shares of the credit-card processor’s stock valued at $10,516,000 after buying an additional 284 shares during the last quarter. Parr Mcknight Wealth Management Group LLC grew its holdings in Visa by 16.3% in the 3rd quarter. Parr Mcknight Wealth Management Group LLC now owns 7,676 shares of the credit-card processor’s stock worth $2,620,000 after acquiring an additional 1,073 shares during the last quarter. Heirloom Wealth Management increased its position in shares of Visa by 0.7% in the third quarter. Heirloom Wealth Management now owns 69,297 shares of the credit-card processor’s stock valued at $23,656,000 after acquiring an additional 471 shares during the period. Mufg Securities Americas Inc. raised its stake in shares of Visa by 20.8% during the third quarter. Mufg Securities Americas Inc. now owns 45,807 shares of the credit-card processor’s stock valued at $15,638,000 after acquiring an additional 7,887 shares during the last quarter. Finally, First Financial Bankshares Inc raised its stake in shares of Visa by 18.8% during the third quarter. First Financial Bankshares Inc now owns 3,355 shares of the credit-card processor’s stock valued at $1,145,000 after acquiring an additional 532 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares in the company, valued at approximately $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.12% of the stock is currently owned by company insiders.

Visa Stock Up 0.3%

NYSE:V opened at $307.29 on Wednesday. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a market capitalization of $557.78 billion, a PE ratio of 28.83, a P/E/G ratio of 1.76 and a beta of 0.79. The firm’s 50-day moving average price is $334.82 and its 200-day moving average price is $338.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11.

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

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s dividend payout ratio (DPR) is 25.14%.

Wall Street Analysts Forecast Growth

V has been the topic of several recent analyst reports. Piper Sandler set a $160.00 target price on Visa in a research note on Wednesday, January 28th. TD Cowen reiterated a “buy” rating on shares of Visa in a report on Friday, January 30th. Truist Financial set a $372.00 target price on Visa in a research note on Tuesday, February 10th. Freedom Capital upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, February 16th. Finally, Evercore set a $380.00 price target on shares of Visa in a report on Friday, December 12th. Seven analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Buy” and an average price target of $391.43.

Visa Company Profile

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.