Prana Capital Management LP Buys Shares of 24,775 Visa Inc. $V

Prana Capital Management LP purchased a new stake in Visa Inc. (NYSE:VFree Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 24,775 shares of the credit-card processor’s stock, valued at approximately $8,458,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor’s stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Visa by 68.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor’s stock worth $3,733,000 after purchasing an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. grew its holdings in shares of Visa by 4.6% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor’s stock worth $3,834,000 after purchasing an additional 477 shares during the period. Matrix Asset Advisors Inc. NY increased its position in shares of Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor’s stock worth $402,000 after purchasing an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. increased its position in shares of Visa by 13.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor’s stock worth $6,521,000 after purchasing an additional 2,230 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on V shares. Cantor Fitzgerald raised shares of Visa to a “strong-buy” rating in a research report on Tuesday, January 27th. Piper Sandler set a $160.00 price target on shares of Visa in a research report on Wednesday, January 28th. Daiwa Securities Group raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $370.00 price target on the stock in a research note on Monday, February 2nd. Evercore set a $380.00 price objective on shares of Visa in a report on Friday, December 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $411.00 price objective (up from $398.00) on shares of Visa in a research report on Friday, January 30th. Seven analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $392.65.

Check Out Our Latest Stock Analysis on Visa

Visa News Summary

Here are the key news stories impacting Visa this week:

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Lloyd Carney sold 650 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total transaction of $201,253.00. Following the completion of the transaction, the director owned 2,679 shares of the company’s stock, valued at approximately $829,471.98. This trade represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by corporate insiders.

Visa Price Performance

V opened at $299.09 on Thursday. The stock’s 50-day moving average price is $322.51 and its 200 day moving average price is $335.07. Visa Inc. has a 12-month low of $298.50 and a 12-month high of $375.51. The firm has a market cap of $542.90 billion, a price-to-earnings ratio of 28.06, a PEG ratio of 1.77 and a beta of 0.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.51.

Visa (NYSE:VGet Free Report) last released its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.14 by $0.03. The company had revenue of $10.90 billion during 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%.Visa’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.75 EPS. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a $0.67 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.9%. Visa’s payout ratio is 25.14%.

About Visa

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Visa (NYSE:V)

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