Visa Inc. $V Shares Sold by Cercano Management LLC

Cercano Management LLC reduced its position in Visa Inc. (NYSE:V) by 46.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,039 shares of the credit-card processor’s stock after selling 66,142 shares during the period. Visa makes up about 1.0% of Cercano Management LLC’s holdings, making the stock its 20th biggest holding. Cercano Management LLC’s holdings in Visa were worth $26,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in shares of Visa in the second quarter worth $7,034,939,000. TCI Fund Management Ltd. grew its holdings in 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 acquiring an additional 2,429,996 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Visa by 110.4% during the 2nd quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock worth $1,396,930,000 after acquiring an additional 2,075,289 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Visa

In other Visa news, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider owned 26,413 shares in the company, valued at approximately $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s 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 transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Trading Up 1.6%

NYSE:V opened at $319.14 on Wednesday. The firm has a market capitalization of $579.29 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.80 and a beta of 0.79. The business has a 50 day simple moving average of $337.60 and a 200 day simple moving average of $339.37. 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 Inc. has a 12-month low of $299.00 and a 12-month high of $375.51.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. Visa had a return on equity of 61.74% and a net margin of 50.23%.The company had revenue of $10.90 billion for the quarter, compared to analysts’ expectations of $10.69 billion. During the same period last year, the business posted $2.75 earnings per share. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. Equities research analysts predict that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is presently 25.14%.

Analyst Upgrades and Downgrades

V has been the subject of a number of research reports. Raymond James Financial reiterated an “outperform” rating and issued a $408.00 price target (up from $398.00) on shares of Visa in a research note on Wednesday, October 29th. TD Cowen reiterated a “buy” rating on shares of Visa in a research report on Friday, January 30th. Evercore set a $380.00 price target on Visa in a report on Friday, December 12th. Citigroup upgraded Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Finally, Macquarie Infrastructure reiterated an “outperform” rating and set a $410.00 target price on shares of Visa in a research note on Friday, January 30th. Six investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus target price of $392.21.

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.