Analyst IMS Investment Management Services Ltd. lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 67.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,579 shares of the credit-card processor's stock after purchasing an additional 5,047 shares during the quarter. Analyst IMS Investment Management Services Ltd.'s holdings in Visa were worth $4,409,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the business. Bradley & Co. Private Wealth Management LLC purchased a new stake in Visa in the fourth quarter valued at approximately $27,000. Compass Planning Associates Inc purchased a new position in shares of Visa during the fourth quarter worth $32,000. NewSquare Capital LLC acquired a new stake in shares of Visa in the fourth quarter valued at $35,000. FPC Investment Advisory Inc. raised its holdings in shares of Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after buying an additional 83 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Visa in the 4th quarter valued at $41,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Visa
In other Visa news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,807.49. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 in the last ninety days. Insiders own 0.13% of the company's stock.
Visa Stock Down 4.9%
Shares of V traded down $17.68 during mid-day trading on Thursday, reaching $340.16. The company's stock had a trading volume of 14,994,861 shares, compared to its average volume of 7,036,736. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The stock has a market cap of $627.64 billion, a PE ratio of 34.19, a price-to-earnings-growth ratio of 2.41 and a beta of 0.94. The company's 50 day moving average is $351.38 and its 200 day moving average is $338.20.
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 analysts' consensus estimates 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 company posted $2.51 earnings per share. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Wall Street Analyst Weigh In
V has been the subject of a number of research analyst reports. Barclays restated an "overweight" rating on shares of Visa in a report on Friday, June 13th. UBS Group raised their price objective on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Truist Financial initiated coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. Susquehanna reiterated a "positive" rating on shares of Visa in a report on Friday, March 21st. Finally, Jefferies Financial Group raised their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Get Our Latest Stock Analysis 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.
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