Permanent Capital Management LP Acquires New Shares in Visa Inc. (NYSE:V)

Permanent Capital Management LP acquired a new stake in Visa Inc. (NYSE:V) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,000 shares of the credit-card processor’s stock, valued at approximately $948,000. Visa comprises approximately 0.3% of Permanent Capital Management LP’s investment portfolio, making the stock its 21st biggest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. FMR LLC increased its holdings in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock worth $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Visa by 6.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor’s stock worth $3,868,646,000 after acquiring an additional 718,558 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Visa by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor’s stock worth $3,188,862,000 after acquiring an additional 123,927 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

V opened at $345.79 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54. The stock has a market cap of $642.41 billion, a price-to-earnings ratio of 34.86, a PEG ratio of 2.33 and a beta of 0.95. The business has a 50 day moving average of $336.18 and a 200-day moving average of $308.35. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last released its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s payout ratio is 23.79%.

Insider Buying and Selling

In other Visa news, CAO Peter M. Andreski sold 2,332 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the transaction, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. The trade was a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,505 shares of company stock valued at $22,290,507. Insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on V shares. Susquehanna increased their price target on Visa from $395.00 to $410.00 and gave the stock a “positive” rating in a report on Friday, February 21st. Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Piper Sandler reiterated an “overweight” rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a report on Friday, January 31st. Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Finally, Barclays increased their price objective on Visa from $361.00 to $396.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $353.96.

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.