In its latest 13F filing, Thrivent Financial for Lutherans reported a 6.2% rise in its Visa holdings during the third quarter, adding 89,593 shares to reach a total position of 1,543,383 shares. This stake now represents 1.0% of Thrivent’s reported portfolio and is its 12th-largest holding by weight. The acquisition, valued at approximately $527 million based on quarter-end book values, underscores Thrivent’s conviction in Visa’s long-term growth prospects within its diversified asset base.

Visa’s first-quarter results delivered $3.17 in adjusted earnings per share, outperforming consensus estimates by $0.03, while revenue climbed 14.6% year-over-year to $10.90 billion—surpassing forecasts by $210 million. Cross-border transaction volume and holiday spending drove the upside, contributing to a net margin of 50.2% and a return on equity of 62.1%, both near multi-year highs and signaling continued operational leverage in the core payments network.

Management outlined several medium- to long-term initiatives designed to diversify fee pools beyond traditional card rails. These include stablecoin settlement pilots, partnerships on central bank digital currency infrastructure, and expanded push-payment capabilities. While these ventures currently represent a modest portion of total revenue, Visa projects they could contribute meaningfully to its non-card volume fee income within the next two to three years.

Visa declared a quarterly dividend of $0.67 per share, reflecting a 25% payout ratio and yielding approximately 0.8% on its equity base. The board reaffirmed its commitment to returning capital through both dividends and opportunistic share repurchases. On the sell-side, six analysts maintain a Strong Buy recommendation, twenty-one hold Buy ratings and four maintain a Hold, with a consensus target implying mid-teens upside. Recent price-target revisions have trended higher, with multiple firms lifting their outlooks following the Q1 beat.