Strive Asset Management LLC acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,141 shares of the credit-card processor's stock, valued at approximately $1,941,000. Visa makes up about 1.5% of Strive Asset Management LLC's investment portfolio, making the stock its 17th largest position.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new position in shares of Visa during the 4th quarter valued at about $5,171,271,000. Vanguard Group Inc. raised its holdings in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Visa during the 4th quarter valued at about $1,955,403,000. Proficio Capital Partners LLC raised its holdings 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 in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Visa Stock Down 0.3%
Shares of NYSE V traded down $0.94 during mid-day trading on Tuesday, hitting $366.96. 5,279,713 shares of the stock traded hands, compared to its average volume of 7,017,669. 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 52 week low of $252.70 and a 52 week high of $369.15. The company has a market cap of $677.10 billion, a price-to-earnings ratio of 36.99, a PEG ratio of 2.33 and a beta of 0.96. The stock has a fifty day moving average price of $339.28 and a 200-day moving average price of $330.43.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period in the previous year, the company posted $2.51 earnings per share. The firm's revenue was up 9.3% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,548,282 over the last ninety days. 0.13% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. StockNews.com raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Bank of America lifted their price target on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company lifted their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.
View Our Latest Stock Analysis on V
About Visa
(
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.
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