Corebridge Financial Inc. Grows Stock Holdings in Visa Inc. (NYSE:V)

Corebridge Financial Inc. raised its holdings in Visa Inc. (NYSE:V) by 3.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 490,900 shares of the credit-card processor’s stock after acquiring an additional 16,476 shares during the period. Visa accounts for about 0.8% of Corebridge Financial Inc.’s holdings, making the stock its 13th biggest position. Corebridge Financial Inc.’s holdings in Visa were worth $155,144,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in V. Vanguard Group Inc. grew its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Visa during the 4th quarter valued at $1,955,403,000. Proficio Capital Partners LLC grew its stake in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after buying an additional 3,926,049 shares during the period. State Street Corp increased its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares during the last quarter. Finally, FMR LLC raised its position in shares of Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the period. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Visa Price Performance

V opened at $336.51 on Monday. The company has a market capitalization of $625.15 billion, a P/E ratio of 33.92, a PEG ratio of 2.33 and a beta of 0.95. The company has a 50-day moving average of $340.48 and a 200-day moving average of $313.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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%. Equities analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued 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 0.70%. Visa’s dividend payout ratio (DPR) is 23.79%.

Analyst Ratings Changes

Several equities research analysts have commented on V shares. Keefe, Bruyette & Woods restated a “hold” rating on shares of Visa in a research note on Thursday, February 13th. The Goldman Sachs Group increased their target price on shares of Visa from $346.00 to $384.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday. Seaport Res Ptn raised shares of Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Oppenheimer restated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.96.

Insider Activity at Visa

In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the completion of the sale, the general counsel now owns 11,925 shares of the company’s stock, valued at $4,054,500. This represents a 17.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the sale, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,205 shares of company stock valued at $48,560,961. Corporate insiders own 0.13% of the company’s stock.

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.