Alta Capital Management LLC lowered its stake in Visa Inc. (NYSE:V - Free Report) by 23.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,276 shares of the credit-card processor's stock after selling 27,326 shares during the quarter. Visa makes up about 2.0% of Alta Capital Management LLC's holdings, making the stock its 23rd biggest position. Alta Capital Management LLC's holdings in Visa were worth $30,587,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Visa by 4.6% in 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. Geode Capital Management LLC lifted its stake in shares of Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors lifted its stake in shares of Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors lifted its stake in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp lifted its stake 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 worth $5,771,116,000 after purchasing an additional 2,785,707 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have weighed in on V shares. William Blair reissued an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets increased 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. Jefferies Financial Group increased their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Truist Financial started coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Finally, Macquarie reduced their price target on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $372.80.
Read Our Latest Analysis on Visa
Insider Activity
In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated 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 transaction, the general counsel now owns 11,925 shares of the company's stock, 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 sold 101,098 shares of company stock worth $36,738,526 over the last ninety days. Corporate insiders own 0.13% of the company's stock.
Visa Stock Down 0.7%
Shares of NYSE V opened at $338.04 on Friday. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a market cap of $623.73 billion, a P/E ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a fifty day moving average price of $351.78 and a 200 day moving average price of $338.54.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 EPS. Research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. Visa's dividend payout ratio is presently 23.72%.
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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