Cabot Wealth Management Inc. reduced its stake in Visa Inc. (NYSE:V - Free Report) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,117 shares of the credit-card processor's stock after selling 1,979 shares during the quarter. Visa makes up approximately 2.3% of Cabot Wealth Management Inc.'s investment portfolio, making the stock its 12th biggest position. Cabot Wealth Management Inc.'s holdings in Visa were worth $18,265,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC increased its stake in Visa by 4.4% in 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 buying an additional 1,689,926 shares in the last quarter. Capital International Investors increased its stake in Visa by 3.8% in 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 buying an additional 866,596 shares in the last quarter. Capital World Investors raised its holdings in Visa by 1.0% during the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Trading Down 0.7%
Shares of NYSE V traded down $2.34 during trading hours on Friday, hitting $338.04. 19,326,861 shares of the company traded hands, compared to its average volume of 7,073,407. The company's 50 day moving average price is $351.78 and its 200 day moving average price is $338.54. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The stock has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a price-to-earnings-growth 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.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the company earned $2.51 EPS. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is presently 23.72%.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on V. UBS Group upped their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.80.
Check Out Our Latest Analysis on V
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at $9,904,875. This represents a 30.58% 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 90 days. Company insiders own 0.13% of the company's stock.
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.
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