Patron Partners LLC Has $756,000 Holdings in Visa Inc. (NYSE:V)

Posted by Defense World Staff on Apr 11th, 2023

Patron Partners LLC lifted its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,640 shares of the credit-card processor’s stock after buying an additional 670 shares during the quarter. Patron Partners LLC’s holdings in Visa were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of V. Vanguard Group Inc. grew its holdings in shares of Visa by 0.6% in 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 buying an additional 912,545 shares during the period. Alliancebernstein L.P. raised its position in shares of Visa by 7.0% during the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after purchasing an additional 1,785,695 shares during the period. Jennison Associates LLC lifted its holdings 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 in the last quarter. Royal Bank of Canada grew its position in shares of Visa by 3.0% in 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. Finally, Legal & General Group Plc raised its holdings in Visa by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 11,724,520 shares of the credit-card processor’s stock worth $2,308,444,000 after buying an additional 148,594 shares during the period. 81.87% of the stock is owned by institutional investors.

Visa Price Performance

Shares of V stock opened at $226.43 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The company has a market cap of $425.91 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.77 and a beta of 0.96. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $234.30. The business has a fifty day simple moving average of $223.68 and a 200 day simple moving average of $211.40.

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 analysts’ consensus estimates of $2.01 by $0.17. The firm had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $1.81 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 8.43 EPS for the current fiscal year.

Visa Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.79%. This is an increase from Visa’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 9th. Visa’s dividend payout ratio is presently 25.17%.

Insider Buying and Selling

In other Visa news, insider Rajat Taneja sold 61,721 shares of the stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $53,367,191.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the stock in a transaction on 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 directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total value of $14,190,892.32. Following the sale, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Insiders have sold a total of 133,115 shares of company stock valued at $30,115,598 over the last ninety days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Oppenheimer upped their target price on shares of Visa from $210.00 to $237.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 25th. Barclays raised their target price on shares of Visa from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Sunday, January 29th. BMO Capital Markets upped their price objective on Visa from $249.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. JPMorgan Chase & Co. upped their target price on shares of Visa from $243.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.11.

Visa Company 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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