Challenger Wealth Management acquired a new stake in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,998 shares of the credit-card processor's stock, valued at approximately $1,896,000. Visa makes up about 1.6% of Challenger Wealth Management's holdings, making the stock its 16th largest holding.
A number of other large investors have also recently made changes to their positions in V. Norges Bank bought a new position in shares of Visa in the fourth quarter valued at $5,171,271,000. Vanguard Group Inc. lifted its stake in shares of Visa by 4.6% in the fourth 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. Raymond James Financial Inc. bought a new position in shares of Visa in the fourth quarter valued at $1,955,403,000. Proficio Capital Partners LLC lifted its position in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock valued at $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Visa by 18.0% during 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 purchasing an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on V. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Citigroup reissued a "neutral" rating on shares of Visa in a research report on Thursday, February 13th. Barclays raised their price target on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. 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. Finally, Oppenheimer reissued an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Six analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $366.13.
Read Our Latest Research Report on V
Insider Activity
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction 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 approximately $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,931. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock valued at $41,548,282 over the last quarter. Company insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of NYSE V traded up $0.63 during midday trading on Wednesday, hitting $359.93. The company's stock had a trading volume of 3,293,103 shares, compared to its average volume of 7,011,967. The stock has a fifty day moving average price of $342.15 and a 200 day moving average price of $332.61. Visa Inc. has a one year low of $252.70 and a one year high of $369.15. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $664.13 billion, a price-to-earnings ratio of 36.28, a P/E/G ratio of 2.33 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last posted 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. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 earnings per share. The company's quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.
About Visa
(
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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