Visa Inc. $V Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,159 shares of the credit-card processor’s stock after selling 3,759 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Visa were worth $16,099,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in V. Vanguard Group Inc. lifted its stake in Visa by 0.9% in the second quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after acquiring an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Visa by 2.5% in the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Norges Bank acquired a new stake in shares of Visa in the 2nd quarter valued at $7,034,939,000. TCI Fund Management Ltd. lifted its position in shares of Visa by 14.6% during the 2nd quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after purchasing an additional 2,429,996 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Visa by 1.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 12,820,885 shares of the credit-card processor’s stock worth $4,552,057,000 after purchasing an additional 145,665 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating on shares of Visa in a report on Tuesday, January 13th. Evercore set a $380.00 target price on Visa in a research note on Friday, December 12th. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 8th. Finally, Truist Financial set a $372.00 price objective on shares of Visa in a research report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $392.21.

Visa Price Performance

Shares of NYSE V opened at $314.13 on Monday. The stock has a market cap of $570.19 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.80 and a beta of 0.79. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51. The stock has a 50 day moving average of $337.98 and a two-hundred day moving average of $339.73. 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:V) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.75 EPS. On average, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. Visa’s dividend payout ratio is 25.14%.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the sale, the insider directly owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This represents a 7.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at $3,282,641.18. The trade was a 52.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.12% of the company’s stock.

Visa 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.