Alta Capital Management LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 18.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,990 shares of the credit-card processor's stock after selling 15,888 shares during the quarter. Visa makes up approximately 1.7% of Alta Capital Management LLC's investment portfolio, making the stock its 21st largest position. Alta Capital Management LLC's holdings in Visa were worth $24,897,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of V. Clayton Financial Group LLC grew its holdings in Visa by 446.2% during the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after purchasing an additional 58 shares during the period. PayPay Securities Corp grew its holdings in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in Visa during the fourth quarter worth about $26,000. Parvin Asset Management LLC grew its holdings in Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in Visa during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 31,455 shares of the business's stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the completion of the transaction, the chief executive officer directly owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the transaction, the chief financial officer owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 42,744 shares of company stock worth $14,356,010 over the last three months. Corporate insiders own 0.12% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on V shares. Oppenheimer reiterated an "outperform" rating and set a $403.00 price target (up from $391.00) on shares of Visa in a report on Wednesday, April 29th. Evercore set a $350.00 price target on Visa in a report on Wednesday, April 29th. Freedom Capital upgraded Visa from a "hold" rating to a "strong-buy" rating in a report on Monday, February 16th. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Piper Sandler set a $160.00 price objective on Visa in a report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $387.67.
View Our Latest Stock Report on V
Visa Trading Up 2.3%
Shares of V stock opened at $333.14 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The stock has a market cap of $597.57 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.74 and a beta of 0.78. The stock has a 50 day simple moving average of $311.47 and a 200 day simple moving average of $325.64. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.21. The business had revenue of $11.23 billion during the quarter, compared to analysts' expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.76 earnings per share. On average, research analysts predict that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to repurchase up to 3.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa's payout ratio is currently 23.34%.
Trending Headlines about Visa
Here are the key news stories impacting Visa this week:
Visa Company Profile
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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