Sanctuary Advisors LLC Has $109.31 Million Stock Position in Visa Inc. $V

Sanctuary Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 0.5% during the second quarter, HoldingsChannel reports. The fund owned 318,611 shares of the credit-card processor’s stock after selling 1,528 shares during the quarter. Sanctuary Advisors LLC’s holdings in Visa were worth $109,312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of V. XXEC Inc. grew its position in Visa by 153,118.8% in the 2nd quarter. XXEC Inc. now owns 186,260,448 shares of the credit-card processor’s stock worth $63,904,097,000 after purchasing an additional 186,138,883 shares during the last quarter. Norges Bank acquired a new position in shares of Visa during the fourth quarter valued at about $5,877,738,000. Cardano Risk Management B.V. raised its position in shares of Visa by 867.6% during the fourth quarter. Cardano Risk Management B.V. now owns 8,213,610 shares of the credit-card processor’s stock valued at $2,880,595,000 after buying an additional 7,364,762 shares during the last quarter. Diamant Asset Management Inc. lifted its stake in shares of Visa by 29,706.3% in the first quarter. Diamant Asset Management Inc. now owns 7,332,947 shares of the credit-card processor’s stock valued at $2,216,310,000 after buying an additional 7,308,345 shares during the period. Finally, J. Stern & Co. LLP lifted its stake in shares of Visa by 12,497.1% in the fourth quarter. J. Stern & Co. LLP now owns 3,378,039 shares of the credit-card processor’s stock valued at $1,184,712,000 after buying an additional 3,351,223 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on V shares. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price target on shares of Visa in a research note on Tuesday, June 2nd. Evercore set a $350.00 price objective on Visa in a research report on Wednesday, April 29th. Erste Group Bank raised Visa from a “hold” rating to a “buy” rating in a report on Monday, July 27th. Robert W. Baird boosted their price objective on Visa from $412.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, TD Cowen restated a “buy” rating on shares of Visa in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Strong Buy rating and twenty-four have issued a Buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $413.58.

Visa Stock Performance

NYSE:V opened at $371.09 on Monday. Visa Inc. has a 12-month low of $293.89 and a 12-month high of $373.97. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $662.18 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 1.99 and a beta of 0.74. The firm has a 50-day moving average price of $353.73 and a 200 day moving average price of $329.61.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, July 28th. The credit-card processor reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.23 by $0.09. The firm had revenue of $11.63 billion during the quarter, compared to analysts’ expectations of $11.40 billion. Visa had a net margin of 50.78% and a return on equity of 67.68%. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.98 earnings per share. Research analysts anticipate that Visa Inc. will post 13.16 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 11th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, August 11th. Visa’s dividend payout ratio (DPR) is 22.79%.

Visa announced that its board has authorized a stock buyback program on Tuesday, April 28th that permits the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Visa news, insider Tullier Kelly Mahon sold 57,272 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $364.97, for a total value of $20,902,561.84. Following the sale, the insider directly owned 49,662 shares in the company, valued at $18,125,140.14. This represents a 53.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Mcinerney sold 20,970 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $340.25, for a total value of $7,135,042.50. Following the transaction, the chief executive officer owned 15,174 shares of the company’s stock, valued at $5,162,953.50. This represents a 58.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,759 shares of company stock worth $32,375,779 in the last 90 days. 0.12% of the stock is owned by company insiders.

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.