Visa Inc. (NYSE:V) Shares Sold by GQG Partners LLC

GQG Partners LLC lowered its stake in Visa Inc. (NYSE:V) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,159,250 shares of the credit-card processor’s stock after selling 319,157 shares during the period. Visa comprises 2.9% of GQG Partners LLC’s investment portfolio, making the stock its 17th biggest position. GQG Partners LLC owned approximately 0.21% of Visa worth $972,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD raised its position in Visa by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after purchasing an additional 6,034,535 shares in the last quarter. FMR LLC raised its position in Visa by 1.7% in the 2nd quarter. FMR LLC now owns 57,670,100 shares of the credit-card processor’s stock valued at $13,484,422,000 after purchasing an additional 946,851 shares in the last quarter. Morgan Stanley raised its position in shares of Visa by 0.9% during the 1st quarter. Morgan Stanley now owns 41,175,579 shares of the credit-card processor’s stock worth $8,718,106,000 after acquiring an additional 382,061 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Visa by 4.5% during the 2nd quarter. Geode Capital Management LLC now owns 28,005,159 shares of the credit-card processor’s stock worth $6,529,879,000 after acquiring an additional 1,200,144 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Visa by 1.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 24,257,046 shares of the credit-card processor’s stock worth $5,671,782,000 after acquiring an additional 435,238 shares in the last quarter. 81.04% of the stock is currently owned by institutional investors.

In other Visa news, EVP Tullier Kelly Mahon sold 2,091 shares of the business’s stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total transaction of $520,052.61. Following the sale, the executive vice president now directly owns 32,055 shares in the company, valued at $7,972,399.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Ryan Mcinerney sold 11,194 shares of the business’s stock in a transaction on Friday, October 1st. The stock was sold at an average price of $224.17, for a total value of $2,509,358.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,671 shares of company stock worth $12,623,562. Company insiders own 0.19% of the company’s stock.

Several brokerages have recently weighed in on V. Truist Securities raised their target price on Visa from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Compass Point raised their target price on Visa from $265.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. JPMorgan Chase & Co. raised their target price on Visa from $249.00 to $267.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 17th. Robert W. Baird raised their target price on Visa from $282.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, July 15th. Finally, Susquehanna raised their target price on Visa from $265.00 to $290.00 and gave the stock a “positive” rating in a research report on Wednesday, July 28th. One equities research analyst has rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $272.71.

Shares of V stock traded up $1.85 during midday trading on Thursday, hitting $224.31. The company had a trading volume of 126,587 shares, compared to its average volume of 8,111,718. The company’s 50 day simple moving average is $228.88 and its 200 day simple moving average is $230.73. Visa Inc. has a 52-week low of $179.23 and a 52-week high of $252.67. The stock has a market cap of $436.95 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 2.00 and a beta of 0.98. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.00 and a quick ratio of 2.00.

Visa (NYSE:V) last posted its quarterly earnings results on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.16. Visa had a return on equity of 35.45% and a net margin of 47.97%. The firm had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. Analysts anticipate that Visa Inc. will post 5.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Friday, August 13th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 12th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio (DPR) is presently 25.40%.

Visa Company Profile

Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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