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Axiom Investors LLC DE Sells 39,632 Shares of Visa Inc. $V

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Axiom Investors LLC DE trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 14.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 243,378 shares of the credit-card processor's stock after selling 39,632 shares during the period. Visa accounts for about 0.7% of Axiom Investors LLC DE's investment portfolio, making the stock its 23rd biggest holding. Axiom Investors LLC DE's holdings in Visa were worth $85,355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Clayton Financial Group LLC increased its stake in Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp increased its stake in Visa by 102.7% in the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new stake in Visa in the fourth quarter valued at approximately $26,000. Parvin Asset Management LLC increased its stake in Visa by 200.0% in the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in shares of Visa in the fourth quarter valued at approximately $30,000. 82.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Visa

In other news, CFO Chris Suh sold 10,639 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total value of $3,455,653.59. Following the transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at $3,206,524.32. This represents a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction dated 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.12% of the company's stock.

Analysts Set New Price Targets

V has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on shares of Visa in a report on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 price target for the company. Truist Financial set a $371.00 price target on shares of Visa and gave the company a "buy" rating in a report on Tuesday, May 12th. UBS Group upped their price target on shares of Visa from $390.00 to $410.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Raymond James Financial reiterated an "outperform" rating and issued a $389.00 price target on shares of Visa in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $400.00 price target on shares of Visa in a report on Wednesday, April 29th. Six investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Visa currently has an average rating of "Buy" and an average price target of $387.78.

Get Our Latest Analysis on Visa

Key Headlines Impacting Visa

Here are the key news stories impacting Visa this week:

Visa Stock Performance

Shares of V opened at $324.93 on Wednesday. Visa Inc. has a 12 month low of $293.89 and a 12 month high of $375.51. The firm has a fifty day simple moving average of $317.40 and a 200 day simple moving average of $324.48. The stock has a market capitalization of $582.84 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 1.71 and a beta of 0.77. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. During the same period in the prior year, the firm posted $2.76 earnings per share. The company's quarterly revenue was up 17.1% compared to the same quarter last year. Research analysts forecast that Visa Inc. will post 13.09 EPS for the current fiscal year.

Visa declared that its board has approved a share repurchase program on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th were 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 of this dividend was Tuesday, May 12th. Visa's dividend payout ratio is 23.34%.

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.

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).

Institutional Ownership by Quarter for Visa (NYSE:V)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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