Davis R M Inc. Has $100.08 Million Stock Position in Visa Inc. $V

Davis R M Inc. lifted its position in Visa Inc. (NYSE:V) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 293,172 shares of the credit-card processor’s stock after acquiring an additional 1,949 shares during the period. Visa comprises approximately 1.7% of Davis R M Inc.’s holdings, making the stock its 14th largest position. Davis R M Inc.’s holdings in Visa were worth $100,083,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Visa in the second quarter valued at $7,034,939,000. TCI Fund Management Ltd. raised its position in 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 valued at $6,769,936,000 after buying an additional 2,429,996 shares during the period. Corient Private Wealth LLC raised its position in Visa by 110.4% during the second quarter. Corient Private Wealth LLC now owns 3,954,937 shares of the credit-card processor’s stock valued at $1,396,930,000 after buying an additional 2,075,289 shares during the period. Vanguard Group Inc. lifted 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 acquiring an additional 1,461,575 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock worth $15,253,245,000 after acquiring an additional 1,067,631 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Insider Activity

In other news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $349.18, for a total value of $3,661,152.30. Following the sale, the chief executive officer directly owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

V has been the topic of a number of research reports. Cantor Fitzgerald upgraded Visa to a “strong-buy” rating in a report on Tuesday, January 27th. Evercore set a $380.00 price objective on shares of Visa in a research report on Friday, December 12th. HSBC upgraded shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 8th. Truist Financial set a $372.00 price target on shares of Visa in a report on Tuesday, February 10th. Finally, UBS Group reaffirmed a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Seven analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $391.43.

Visa Stock Up 0.7%

V opened at $319.07 on Monday. The firm has a market cap of $579.17 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.83 and a beta of 0.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day moving average price of $333.00 and a 200 day moving average price of $338.09. Visa Inc. has a twelve month low of $299.00 and a twelve month high of $375.51.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.14 by $0.03. The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.75 earnings per share. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, February 10th. Visa’s dividend payout ratio is 25.14%.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.