National Bank of Canada FI Boosts Stock Position in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 3rd, 2023

National Bank of Canada FI boosted its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,322 shares of the credit-card processor’s stock after acquiring an additional 4,046 shares during the quarter. National Bank of Canada FI’s holdings in Visa were worth $112,039,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Visa by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after acquiring an additional 912,545 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 in the last quarter. Alliancebernstein L.P. raised its position in 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 in the last quarter. Jennison Associates LLC raised its position in 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 in the last quarter. Finally, Royal Bank of Canada raised its position in 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 in the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Insider Transactions at Visa

In other news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the sale, the chairman now owns 162,354 shares in the company, valued at approximately $36,365,672.46. The disclosure for this sale can be found here. Insiders have sold 191,312 shares of company stock worth $33,751,165 over the last quarter. 0.22% of the stock is currently owned by insiders.

Visa Stock Up 1.4 %

Visa stock opened at $225.46 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The business’s 50-day simple moving average is $223.58 and its two-hundred day simple moving average is $209.88. The company has a market cap of $424.09 billion, a PE ratio of 31.53, a PEG ratio of 1.77 and a beta of 0.97. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $234.30.

Visa (NYSE:V – Get Rating) last posted its quarterly 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 business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.81 EPS. Equities analysts anticipate that Visa Inc. will post 8.43 EPS for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were paid a $0.45 dividend. This is an increase from Visa’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio is presently 25.17%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Wolfe Research lifted their target price on Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Credit Suisse Group lifted their target price on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. UBS Group decreased 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. Barclays lifted their target price on Visa from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Sunday, January 29th. Finally, Jefferies Financial Group lifted their target price on Visa from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.11.

About Visa

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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).