21 West Wealth Management LLC bought a new stake in Visa Inc. (NYSE:V - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,005 shares of the credit-card processor's stock, valued at approximately $357,000.
A number of other institutional investors also recently bought and sold shares of the company. Lakeridge Wealth Management LLC increased its position in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in Visa by 14.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after buying an additional 57,800 shares in the last quarter. Iron Gate Global Advisors LLC increased its position in Visa by 5.9% in the first quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after buying an additional 3,484 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock worth $5,003,569,000 after buying an additional 955,392 shares in the last quarter. Finally, Yeomans Consulting Group Inc. grew its position in shares of Visa by 2.9% during the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock worth $360,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction on Monday, August 18th. The shares were sold at an average price of $344.02, for a total value of $697,328.54. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at $4,102,438.50. This represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company's stock.
Visa Trading Down 1.2%
Shares of NYSE:V opened at $339.33 on Monday. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51. The business's fifty day simple moving average is $347.03 and its 200-day simple moving average is $346.86. The company has a market capitalization of $621.92 billion, a PE ratio of 33.14, a P/E/G ratio of 2.26 and a beta of 0.92. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period last year, the business posted $2.42 EPS. The business's revenue was up 14.3% compared to the same quarter last year. As a group, equities research analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were issued a $0.59 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio (DPR) is currently 23.05%.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on V shares. Citigroup started coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Barclays reaffirmed an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a research note on Thursday, July 31st. Truist Financial decreased their price target on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. UBS Group reissued a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research note on Wednesday, July 30th. Finally, Raymond James Financial reissued an "outperform" rating on shares of Visa in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $385.96.
Get Our Latest Report on V
Visa 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.
See Also
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
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