Financial Architects Inc grew its position in shares of Visa Inc. (NYSE:V) by 6.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,869 shares of the credit-card processor’s stock after purchasing an additional 763 shares during the quarter. Financial Architects Inc’s holdings in Visa were worth $2,775,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Visa by 7.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after acquiring an additional 6,034,535 shares during the period. Magellan Asset Management Ltd grew its stake in Visa by 32.1% in the 1st quarter. Magellan Asset Management Ltd now owns 12,625,802 shares of the credit-card processor’s stock valued at $2,673,261,000 after acquiring an additional 3,065,044 shares during the period. Edgewood Management LLC boosted its stake in Visa by 17.1% during the 1st quarter. Edgewood Management LLC now owns 15,902,335 shares of the credit-card processor’s stock worth $3,367,001,000 after purchasing an additional 2,326,178 shares during the last quarter. Franklin Resources Inc. boosted its stake in Visa by 19.8% during the 1st quarter. Franklin Resources Inc. now owns 12,573,336 shares of the credit-card processor’s stock worth $2,662,156,000 after purchasing an additional 2,075,534 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Visa by 10.7% during the 2nd quarter. Alliancebernstein L.P. now owns 20,743,603 shares of the credit-card processor’s stock worth $4,850,269,000 after purchasing an additional 2,009,038 shares during the last quarter. 81.04% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Tullier Kelly Mahon sold 2,091 shares of the stock in a transaction on Wednesday, July 28th. The stock was sold at an average price of $248.71, for a total transaction of $520,052.61. Following the sale, the executive vice president now owns 32,055 shares of the company’s stock, valued at $7,972,399.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Rajat Taneja sold 42,336 shares of Visa stock in a transaction dated Tuesday, July 6th. The shares were sold at an average price of $240.00, for a total value of $10,160,640.00. The disclosure for this sale can be found here. Insiders sold 84,813 shares of company stock valued at $20,342,613 over the last three months. Corporate insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 27th. The credit-card processor reported $1.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.16. The business had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $5.86 billion. Visa had a return on equity of 35.45% and a net margin of 47.97%. The company’s revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, analysts anticipate that Visa Inc. will post 5.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Friday, August 13th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, August 12th. Visa’s payout ratio is currently 25.40%.
Several research analysts have recently weighed in on V shares. Morgan Stanley boosted their price target on shares of Visa from $279.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, July 28th. Robert W. Baird boosted their price target on shares of Visa from $282.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, July 15th. Susquehanna Bancshares boosted their price target on shares of Visa from $265.00 to $290.00 and gave the company a “positive” rating in a research report on Wednesday, July 28th. Citigroup boosted their price target on shares of Visa from $283.00 to $288.00 and gave the company a “buy” rating in a research report on Wednesday, July 28th. Finally, Truist boosted their price objective on shares of Visa from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. One research analyst has rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $271.52.
Visa Company Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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