Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,457 shares of the credit-card processor's stock, valued at approximately $1,409,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of V. Fiduciary Trust Co grew its holdings in Visa by 1.1% during the 4th quarter. Fiduciary Trust Co now owns 135,392 shares of the credit-card processor's stock worth $42,789,000 after acquiring an additional 1,534 shares in the last quarter. First Manhattan CO. LLC. raised its stake in Visa by 0.5% in the fourth quarter. First Manhattan CO. LLC. now owns 1,253,658 shares of the credit-card processor's stock valued at $399,454,000 after buying an additional 5,704 shares during the last quarter. FJ Capital Management LLC acquired a new stake in Visa in the fourth quarter worth about $283,000. Fred Alger Management LLC increased its holdings in shares of Visa by 6.6% during the fourth quarter. Fred Alger Management LLC now owns 1,047,921 shares of the credit-card processor's stock valued at $331,185,000 after acquiring an additional 64,606 shares in the last quarter. Finally, Family Management Corp raised its position in shares of Visa by 4.8% in the 4th quarter. Family Management Corp now owns 16,960 shares of the credit-card processor's stock valued at $5,360,000 after purchasing an additional 778 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Trading Up 0.5 %
Shares of V traded up $1.68 during midday trading on Friday, reaching $352.95. The company had a trading volume of 3,086,498 shares, compared to its average volume of 7,169,131. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $336.98 and a 200-day simple moving average of $327.02. The stock has a market cap of $655.70 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the previous year, the firm earned $2.51 earnings per share. Visa's quarterly revenue was up 9.3% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio is currently 23.72%.
Analyst Ratings Changes
Several research firms have recently commented on V. Piper Sandler lifted their price objective on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Wells Fargo & Company boosted their price target on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $362.38.
Read Our Latest Research Report on V
Insider Activity
In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock valued at $41,548,282 in the last quarter. Insiders own 0.13% of the company's stock.
Visa Company Profile
(
Free Report)
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.
Further Reading
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