Visa Inc. (NYSE:V) Stake Increased by Pacer Advisors Inc.

Posted by Defense World Staff on May 2nd, 2023

Pacer Advisors Inc. grew its holdings in Visa Inc. (NYSE:V – Get Rating) by 40.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,340 shares of the credit-card processor’s stock after purchasing an additional 1,548 shares during the period. Pacer Advisors Inc.’s holdings in Visa were worth $1,109,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. McClarren Financial Advisors Inc. purchased a new stake in shares of Visa during the third quarter worth $26,000. Global Wealth Strategies & Associates purchased a new stake in shares of Visa during the fourth quarter worth $26,000. Cowa LLC purchased a new stake in shares of Visa during the third quarter worth $29,000. JDM Financial Group LLC purchased a new stake in shares of Visa during the fourth quarter worth $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Visa during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.

Visa Stock Down 0.1 %

V stock opened at $232.51 on Tuesday. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $235.57. The company has a market cap of $437.35 billion, a PE ratio of 31.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.96. The business’s 50-day simple moving average is $224.63 and its 200 day simple moving average is $216.67. The company has a quick ratio of 1.44, a current ratio of 1.50 and a debt-to-equity ratio of 0.56.

Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.79 earnings per share. On average, research analysts anticipate that Visa Inc. will post 8.57 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 12th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Thursday, May 11th. Visa’s dividend payout ratio is 24.06%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on Visa from $284.00 to $288.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Jefferies Financial Group increased their target price on shares of Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 18th. KeyCorp increased their target price on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Royal Bank of Canada increased their target price on shares of Visa from $262.00 to $265.00 in a research report on Wednesday, April 26th. Finally, Barclays increased their target price on shares of Visa from $270.00 to $272.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $260.96.

Insiders Place Their Bets

In other news, insider Rajat Taneja sold 61,721 shares of Visa 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 completion of the transaction, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Rajat Taneja sold 61,721 shares of Visa 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 completion of the transaction, the insider now owns 232,112 shares in the company, valued at $53,367,191.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 13,343 shares of Visa stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the completion of the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The disclosure for this sale can be found here. Insiders sold a total of 187,746 shares of company stock worth $42,795,795 over the last quarter. Company insiders own 0.22% of the company’s stock.

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).