Magnetar Financial LLC Increases Holdings in Visa Inc. (NYSE:V)

Magnetar Financial LLC raised its position in shares of Visa Inc. (NYSE:V) by 37.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,736 shares of the credit-card processor’s stock after acquiring an additional 4,803 shares during the quarter. Magnetar Financial LLC’s holdings in Visa were worth $4,655,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Alaethes Wealth LLC lifted its holdings in shares of Visa by 0.4% during the 4th quarter. Alaethes Wealth LLC now owns 8,843 shares of the credit-card processor’s stock worth $2,302,000 after acquiring an additional 37 shares during the last quarter. Jessup Wealth Management Inc boosted its holdings in shares of Visa by 0.7% in the 1st quarter. Jessup Wealth Management Inc now owns 5,051 shares of the credit-card processor’s stock worth $1,410,000 after purchasing an additional 37 shares in the last quarter. Cordatus Wealth Management LLC increased its position in shares of Visa by 0.3% during the 1st quarter. Cordatus Wealth Management LLC now owns 10,793 shares of the credit-card processor’s stock valued at $3,012,000 after purchasing an additional 37 shares during the last quarter. Garden State Investment Advisory Services LLC raised its holdings in shares of Visa by 1.8% during the 4th quarter. Garden State Investment Advisory Services LLC now owns 2,191 shares of the credit-card processor’s stock valued at $571,000 after buying an additional 38 shares in the last quarter. Finally, Tlwm lifted its position in Visa by 0.7% in the 2nd quarter. Tlwm now owns 5,241 shares of the credit-card processor’s stock worth $1,376,000 after buying an additional 38 shares during the last quarter. 82.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

V has been the topic of a number of recent research reports. Macquarie reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Visa in a research note on Wednesday, July 24th. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a research note on Thursday, September 12th. Piper Sandler decreased their target price on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Buying and Selling

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction 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 directly owns 538 shares in the company, valued at $148,687.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Stock Performance

Shares of V opened at $284.77 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07. The stock has a 50 day moving average price of $270.65 and a 200 day moving average price of $273.40. The company has a market capitalization of $520.83 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The firm had revenue of $8.90 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same period last year, the firm posted $2.16 EPS. The company’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently disclosed 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 of this dividend was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.73%. Visa’s payout ratio is currently 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.