Northwest Investment Counselors LLC Acquires 568 Shares of Visa Inc. (NYSE:V)

Posted by on Mar 26th, 2023

Northwest Investment Counselors LLC raised its position in Visa Inc. (NYSE:V – Get Rating) by 62.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,481 shares of the credit-card processor’s stock after buying an additional 568 shares during the quarter. Northwest Investment Counselors LLC’s holdings in Visa were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Visa by 0.6% in the third quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after buying an additional 912,545 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Visa by 0.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 51,261,821 shares of the credit-card processor’s stock valued at $10,092,940,000 after purchasing an additional 200,057 shares during the period. Alliancebernstein L.P. raised its stake in shares of Visa by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after purchasing an additional 1,785,695 shares during the period. Jennison Associates LLC raised its stake in shares of Visa by 0.6% during the 3rd quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock valued at $2,357,438,000 after purchasing an additional 77,186 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Visa by 3.0% during the 3rd quarter. Royal Bank of Canada now owns 13,157,577 shares of the credit-card processor’s stock valued at $2,337,444,000 after purchasing an additional 383,335 shares during the period. 81.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Visa

In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the company’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. Insiders sold 191,312 shares of company stock valued at $33,751,165 in the last 90 days. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on V. Raymond James boosted their price objective on Visa from $261.00 to $281.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Morgan Stanley boosted their price objective on Visa from $284.00 to $288.00 and gave the company an “overweight” rating in a research note on Friday, January 27th. Wolfe Research boosted their price objective on Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. UBS Group reduced their target price on Visa from $290.00 to $287.00 and set a “buy” rating for the company in a research report on Thursday, December 15th. Finally, Redburn Partners began coverage on Visa in a research report on Tuesday, November 29th. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $259.11.

Visa Trading Down 0.7 %

Shares of V stock opened at $221.04 on Friday. The stock has a market capitalization of $415.78 billion, a PE ratio of 30.91, a P/E/G ratio of 1.74 and a beta of 0.97. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The business has a 50-day moving average of $223.52 and a 200 day moving average of $209.10. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44.

Visa (NYSE:V – Get Rating) last issued its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. Visa’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 EPS. As a group, sell-side analysts anticipate that Visa Inc. will post 8.43 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a dividend of $0.45 per share. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a yield of 0.81%. Visa’s dividend payout ratio is presently 25.17%.

Visa Profile

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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).

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Institutional Ownership by Quarter for Visa (NYSE:V)

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