QRG Capital Management Increases Visa Stake by 8.9%

QRG Capital Management Inc. has increased its investment in Visa Inc. (NYSE:V) by 8.9% during the fourth quarter, according to their latest report to the Securities and Exchange Commission (SEC). Following this investment, QRG Capital now holds 234,873 shares of Visa after acquiring an additional 19,133 shares during this period. Visa now represents 0.8% of their total investment portfolio, making it their 16th largest holding. As of their latest filing, QRG Capital Management's stake in Visa is valued at around $74,229,000.

Other Institutional Investments

A number of other institutional investors have also made various adjustments to their positions in Visa. For example, Elevation Wealth Partners LLC raised its stake in Visa by 3.3% in the fourth quarter, bringing its total to 939 shares, valued at approximately $297,000 after acquiring 30 more shares. Warther Private Wealth LLC increased its position by 1.0%, now holding 2,935 shares worth about $928,000 after a purchase of 30 shares. Similarly, Valmark Advisers Inc. and Crescent Grove Advisors LLC both raised their stakes slightly, contributing to a notable overall interest in Visa from various investors. In total, institutional investors and hedge funds own 82.15% of Visa's stock.

Insider Transactions

In related news, insider Tullier Kelly Mahon sold 33,741 Visa shares on February 7, at an average price of $349.77, resulting in a total transaction value of approximately $11.8 million. Post-transaction, Mahon holds 36,566 shares valued at around $12.8 million, marking a 47.99% reduction in their position. Additionally, General Counsel Julie B. Rottenberg sold 2,572 shares on February 3, for about $874,480, leaving her with 11,925 shares valued at around $4.05 million, a 17.74% decrease in her ownership. Over the last three months, insiders have sold a total of 55,885 shares worth about $19.2 million, with corporate insiders owning 0.13% of the company’s stock.

Current Stock Performance

As of the latest trading session, Visa's stock opened at $363.33, with a 52-week low of $252.70 and a high of $364.00. The current market capitalization stands at approximately $674.99 billion, with a price-to-earnings (P/E) ratio of 36.63 and a beta of 0.97. Visa last announced earnings on January 30, reporting earnings of $2.75 per share, surpassing analyst expectations by $0.09, with strong margins and return on equity reported.

Upcoming Dividend Payments

Visa has also announced a quarterly dividend of $0.59 payable on March 3. Shareholders who are on record by February 11 will be eligible for this payment, which translates to an annualized dividend of $2.36, providing a yield of 0.65%. This puts Visa’s dividend payout ratio at 23.79%.

Analyst Ratings and Forecasts

Analysts have expressed positive sentiments regarding Visa’s stock. Several firms have reiterated their favorable ratings, with William Blair maintaining an "outperform" rating. Others, such as JPMorgan Chase & Co., have increased their target prices significantly. Currently, the consensus rating for Visa shares is "Moderate Buy," with a target price around $353.96, as reported by MarketBeat.

Company Overview

Visa Inc. operates as a leading payment technology company both in the United States and worldwide. The company manages VisaNet, a network for processing transactions, which allows for the authorization, clearing, and settlement of payment transactions. It offers a wide range of products including credit, debit, and prepaid cards, as well as various payment solutions and services designed to enhance security and streamline operations.

Visa, Investment, Stocks