Lingotto Investment Management LLP Increases Holdings in Visa Inc. (NYSE:V)

Lingotto Investment Management LLP grew its holdings in shares of Visa Inc. (NYSE:V) by 11.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,348 shares of the credit-card processor’s stock after purchasing an additional 3,253 shares during the quarter. Visa makes up 0.3% of Lingotto Investment Management LLP’s investment portfolio, making the stock its 26th largest holding. Lingotto Investment Management LLP’s holdings in Visa were worth $8,490,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in V. Livelsberger Financial Advisory purchased a new stake in Visa in the 4th quarter worth about $25,000. Westend Capital Management LLC purchased a new position in Visa during the 1st quarter valued at about $25,000. POM Investment Strategies LLC grew its holdings in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new position in Visa during the 4th quarter valued at about $33,000. Finally, TruNorth Capital Management LLC grew its holdings in Visa by 211.9% during the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Price Performance

Shares of Visa stock opened at $291.61 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business’s 50 day simple moving average is $269.30 and its two-hundred day simple moving average is $273.27. The stock has a market capitalization of $533.34 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Visa Inc. has a one year low of $227.78 and a one year high of $293.07.

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

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were paid a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on V. JPMorgan Chase & Co. lifted their target price on Visa from $290.00 to $320.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Piper Sandler reduced their target price on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Royal Bank of Canada reduced their target price on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Finally, Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $310.22.

Visa Company 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.