Corient Private Wealth LLC Increases Holdings in Visa Inc. $V

Corient Private Wealth LLC lifted its holdings in Visa Inc. (NYSE:V) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,995,976 shares of the credit-card processor’s stock after acquiring an additional 116,328 shares during the period. Visa accounts for about 1.0% of Corient Private Wealth LLC’s portfolio, making the stock its 18th biggest holding. Corient Private Wealth LLC owned approximately 0.11% of Visa worth $708,672,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Visa by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 162,544,006 shares of the credit-card processor’s stock worth $57,711,249,000 after purchasing an additional 1,461,575 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Visa by 2.5% in the second quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after buying an additional 1,067,631 shares in the last quarter. Norges Bank purchased a new position in shares of Visa in the second quarter worth $7,034,939,000. TCI Fund Management Ltd. boosted its position in shares of Visa by 14.6% during the second quarter. TCI Fund Management Ltd. now owns 19,067,558 shares of the credit-card processor’s stock worth $6,769,936,000 after acquiring an additional 2,429,996 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Visa by 4.0% during the first quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor’s stock valued at $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on V shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Visa in a research note on Wednesday, October 8th. HSBC raised Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. Hsbc Global Res upgraded Visa from a “hold” rating to a “strong-buy” rating in a report on Monday, December 8th. Wells Fargo & Company raised Visa to a “strong-buy” rating in a research note on Wednesday, October 22nd. Finally, Citigroup upgraded Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $402.52.

Insider Transactions at Visa

In related news, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the sale, the director directly owned 2,468 shares of the company’s stock, valued at approximately $830,432.64. This trade represents a 26.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 24,042 shares of company stock worth $8,175,152. 0.12% of the stock is currently owned by company insiders.

Visa Trading Down 0.2%

Shares of V opened at $347.15 on Tuesday. The company’s fifty day simple moving average is $337.65 and its 200-day simple moving average is $345.04. The company has a market cap of $632.42 billion, a P/E ratio of 34.00, a P/E/G ratio of 2.05 and a beta of 0.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The company had revenue of $10.72 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $2.71 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. As a group, analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Wednesday, November 12th. Visa’s payout ratio is currently 26.25%.

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.