AlTi Global Inc. Grows Stake in Visa Inc. (NYSE:V)

AlTi Global Inc. raised its stake in Visa Inc. (NYSE:V) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,382 shares of the credit-card processor’s stock after purchasing an additional 232 shares during the quarter. AlTi Global Inc.’s holdings in Visa were worth $5,350,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in V. Livelsberger Financial Advisory purchased a new position in Visa in the fourth quarter valued at about $25,000. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC increased its position in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC purchased a new stake in shares of Visa during the fourth quarter worth about $33,000. Finally, TruNorth Capital Management LLC increased its position in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after acquiring an additional 89 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on V. TD Cowen dropped their target price on Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 target price on shares of Visa in a research report on Thursday, September 12th. Jefferies Financial Group dropped their target price on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Evercore ISI dropped their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 25th. Finally, BNP Paribas upgraded Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.22.

Visa Stock Performance

V opened at $272.93 on Wednesday. The business’s 50 day moving average is $271.12 and its 200-day moving average is $273.42. The stock has a market cap of $497.36 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 2.04 and a beta of 0.96. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07.

Visa (NYSE:V) last released its quarterly earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.16 earnings per share. On average, analysts predict that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Visa 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.