Annex Advisory Services LLC Has $31.82 Million Stake in Visa Inc. (NYSE:V)

Annex Advisory Services LLC lifted its position in Visa Inc. (NYSE:V) by 5.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,022 shares of the credit-card processor’s stock after purchasing an additional 6,323 shares during the quarter. Visa accounts for 1.1% of Annex Advisory Services LLC’s portfolio, making the stock its 15th largest position. Annex Advisory Services LLC’s holdings in Visa were worth $31,821,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of V. Capital International Investors raised its position in shares of Visa by 2.7% during the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after purchasing an additional 596,950 shares during the period. Capital World Investors raised its position in shares of Visa by 8.0% during 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 acquired a new stake in shares of Visa during the fourth quarter worth about $3,895,015,000. Ameriprise Financial Inc. raised its position in shares of Visa by 2.7% during 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 raised its position in shares of Visa by 0.7% during 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 currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Ryan Mcinerney sold 8,200 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total transaction of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the completion of the transaction, the director now directly owns 2,591 shares of the company’s stock, valued at $713,950.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,402 shares of company stock valued at $9,559,382. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of NYSE V opened at $273.66 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 12 month low of $226.02 and a 12 month high of $290.96. The stock has a 50 day moving average of $274.11 and a 200-day moving average of $273.41. The company has a market capitalization of $500.51 billion, a P/E ratio of 30.58, a P/E/G ratio of 1.89 and a beta of 0.97.

Visa (NYSE:V) last issued its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping 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 company had revenue of $8.78 billion during the quarter, compared to the consensus estimate of $8.62 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Friday, May 17th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is currently 23.24%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on V shares. Piper Sandler started coverage on Visa in a research report on Monday, May 13th. They set an “overweight” rating and a $322.00 price target on the stock. Royal Bank of Canada lifted their target price on Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, April 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. Wedbush lifted their target price on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Finally, Citigroup lifted their target price on Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $303.56.

About Visa

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.