Pacifica Partners Inc. Has $5.82 Million Position in Visa Inc. (NYSE:V)

Pacifica Partners Inc. trimmed its holdings in Visa Inc. (NYSE:V) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,714 shares of the credit-card processor’s stock after selling 206 shares during the quarter. Visa accounts for 2.6% of Pacifica Partners Inc.’s portfolio, making the stock its 9th largest holding. Pacifica Partners Inc.’s holdings in Visa were worth $5,822,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital International Investors boosted its position in shares of Visa by 2.7% in the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after acquiring an additional 596,950 shares during the period. Capital World Investors lifted its position in Visa by 8.0% in the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the period. Norges Bank bought a new position in Visa in the fourth quarter worth $3,895,015,000. Ameriprise Financial Inc. lifted its position in Visa by 2.7% in the third quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after purchasing an additional 374,489 shares during the period. Finally, Jennison Associates LLC lifted its position in Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after purchasing an additional 85,123 shares during the period. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the subject of several research reports. Wells Fargo & Company raised their target price on Visa from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen began coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 price objective for the company. Mizuho increased their price objective on Visa from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Wedbush increased their price objective on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler began coverage on Visa in a research note on Monday, May 13th. They set an “overweight” rating and a $322.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Visa has an average rating of “Moderate Buy” and an average target price of $303.76.

Visa Trading Up 0.3 %

NYSE:V opened at $276.17 on Tuesday. Visa Inc. has a fifty-two week low of $226.02 and a fifty-two week high of $290.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. The stock has a market capitalization of $505.10 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.88 and a beta of 0.97. The business’s 50-day simple moving average is $274.07 and its 200-day simple moving average is $273.29.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The business had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the business posted $2.09 EPS. Visa’s revenue for the quarter was up 9.9% on a year-over-year basis. Sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Activity

In other news, insider Paul D. Fabara sold 25,293 shares of Visa stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lloyd Carney sold 909 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders have sold 34,402 shares of company stock worth $9,559,382 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.