Zevin Asset Management LLC Has $29.71 Million Stock Holdings in Visa Inc. $V

Zevin Asset Management LLC decreased its position in shares of Visa Inc. (NYSE:V) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,032 shares of the credit-card processor’s stock after selling 4,314 shares during the period. Visa accounts for 4.3% of Zevin Asset Management LLC’s holdings, making the stock its 4th biggest position. Zevin Asset Management LLC’s holdings in Visa were worth $29,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Visa by 0.9% during 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 buying an additional 1,461,575 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares in the last quarter. Norges Bank purchased a new stake in shares of Visa during the second quarter worth about $7,034,939,000. TCI Fund Management Ltd. increased its holdings in shares of Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock valued at $6,769,936,000 after acquiring an additional 2,429,996 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 valued at $4,552,057,000 after acquiring an additional 145,665 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Cantor Fitzgerald upgraded shares of Visa to a “strong-buy” rating in a research note on Tuesday, January 27th. Morgan Stanley reiterated an “overweight” rating and set a $411.00 price objective (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a research report on Wednesday, January 21st. Truist Financial set a $372.00 target price on Visa in a research note on Tuesday, February 10th. Finally, Freedom Capital raised Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 16th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $391.43.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.12% of the company’s stock.

Visa Trading Up 0.6%

Shares of NYSE:V opened at $320.90 on Monday. Visa Inc. has a 12-month low of $299.00 and a 12-month high of $375.51. The company has a market capitalization of $582.49 billion, a PE ratio of 30.10, a PEG ratio of 1.84 and a beta of 0.79. The business has a 50 day moving average of $336.40 and a two-hundred day moving average of $338.95. 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 issued its quarterly earnings data on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping 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 business’s revenue was up 14.6% on a year-over-year basis. During the same quarter last year, the company earned $2.75 EPS. As a group, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is 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.