Charles Schwab Trust Co trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 25.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,034 shares of the credit-card processor's stock after selling 1,361 shares during the quarter. Charles Schwab Trust Co's holdings in Visa were worth $1,414,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Visa in the fourth quarter worth approximately $5,171,271,000. GAMMA Investing LLC lifted its holdings in shares of Visa by 38,416.3% in the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new position in shares of Visa during the 4th quarter worth $1,955,403,000. Finally, Proficio Capital Partners LLC increased its stake 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 buying an additional 3,926,049 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Stock Performance
Shares of V stock traded up $3.67 during trading hours on Friday, hitting $370.44. The company's stock had a trading volume of 5,007,822 shares, compared to its average volume of 7,003,538. The stock has a market cap of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $371.00. The company has a 50 day moving average of $344.98 and a 200 day moving average of $335.10. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.51 earnings per share. On average, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Jefferies Financial Group upped their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Oppenheimer reissued an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Finally, The Goldman Sachs Group started coverage on shares of Visa in a research note on Monday. They issued a "neutral" rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Read Our Latest Analysis on V
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 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 $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $58,645,479 over the last ninety days. Company insiders own 0.13% of the company's stock.
Visa Profile
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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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