Sanctuary Advisors LLC Takes $87.43 Million Position in Visa Inc. (NYSE:V)

Sanctuary Advisors LLC purchased a new stake in Visa Inc. (NYSE:V) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 318,470 shares of the credit-card processor’s stock, valued at approximately $87,426,000. Visa makes up 0.6% of Sanctuary Advisors LLC’s holdings, making the stock its 22nd biggest position.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Visa by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 142,202,830 shares of the credit-card processor’s stock valued at $39,685,966,000 after buying an additional 788,908 shares during the period. Capital International Investors grew its holdings in Visa by 2.7% in the 1st quarter. Capital International Investors now owns 23,570,391 shares of the credit-card processor’s stock valued at $6,578,025,000 after buying an additional 626,618 shares during the period. Capital World Investors grew its holdings in Visa by 5.4% in the 1st quarter. Capital World Investors now owns 18,863,796 shares of the credit-card processor’s stock valued at $5,264,508,000 after buying an additional 968,008 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Visa by 2.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock valued at $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on V shares. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Oppenheimer started coverage on Visa in a research note on Tuesday. They issued an “outperform” rating and a $318.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Visa in a research note on Friday, September 27th. Piper Sandler reduced their price target on Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 24th. Finally, BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target on the stock in a research report on Tuesday, September 3rd. Six investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.93.

Visa Price Performance

Shares of NYSE V opened at $277.62 on Wednesday. Visa Inc. has a twelve month low of $227.78 and a twelve month high of $293.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $507.75 billion, a price-to-earnings ratio of 31.02, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. The business has a 50 day simple moving average of $271.71 and a 200-day simple moving average of $273.07.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The firm had revenue of $8.90 billion during the quarter, compared to the consensus estimate of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 EPS. As a group, equities research analysts expect 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. Shareholders of record on Friday, August 9th were given 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 yield of 0.75%. Visa’s dividend payout ratio (DPR) is presently 23.24%.

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.