Richard Bernstein Advisors LLC Has $1.97 Million Stock Holdings in Visa Inc. $V

Richard Bernstein Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 34.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,777 shares of the credit-card processor’s stock after selling 3,090 shares during the period. Richard Bernstein Advisors LLC’s holdings in Visa were worth $1,972,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Promus Capital LLC lifted its position in shares of Visa by 1.6% during the third quarter. Promus Capital LLC now owns 4,982 shares of the credit-card processor’s stock worth $1,701,000 after purchasing an additional 80 shares in the last quarter. Winthrop Capital Management LLC increased its position in shares of Visa by 4.3% during the third quarter. Winthrop Capital Management LLC now owns 5,300 shares of the credit-card processor’s stock worth $1,809,000 after acquiring an additional 218 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its stake in Visa by 0.6% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 383,427 shares of the credit-card processor’s stock valued at $131,044,000 after acquiring an additional 2,402 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Visa by 73.4% in the 3rd quarter. Capital Research Global Investors now owns 3,197,405 shares of the credit-card processor’s stock valued at $1,091,528,000 after acquiring an additional 1,353,441 shares in the last quarter. Finally, Capital World Investors lifted its stake in Visa by 0.8% in the third quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor’s stock valued at $8,463,484,000 after acquiring an additional 193,288 shares during the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on V. Rothschild & Co Redburn set a $385.00 price objective on Visa in a research report on Wednesday, January 28th. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. Piper Sandler set a $160.00 target price on shares of Visa in a report on Wednesday, January 28th. Bank of America initiated coverage on Visa in a research report on Thursday, March 5th. They issued a “buy” rating and a $410.00 target price for the company. Finally, UBS Group reiterated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Seven analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Visa currently has a consensus rating of “Buy” and a consensus target price of $392.65.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the company’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 sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.12% of the stock is currently owned by company insiders.

Visa Price Performance

Shares of V stock opened at $316.03 on Tuesday. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The business’s 50 day moving average price is $328.80 and its 200-day moving average price is $337.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $573.65 billion, a P/E ratio of 29.65, a P/E/G ratio of 1.82 and a beta of 0.78.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the business earned $2.75 EPS. Visa’s revenue was up 14.6% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

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 dividend of $0.67 per share. The ex-dividend date was Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is presently 25.14%.

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.