Coleford Investment Management Ltd. cut its holdings in Visa Inc. (NYSE:V - Free Report) by 1.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,462 shares of the credit-card processor's stock after selling 1,373 shares during the quarter. Visa accounts for approximately 7.2% of Coleford Investment Management Ltd.'s investment portfolio, making the stock its 3rd largest position. Coleford Investment Management Ltd.'s holdings in Visa were worth $25,745,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Visa by 4.6% during the fourth 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. Geode Capital Management LLC boosted its stake in Visa by 4.4% during the fourth 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 during the period. Capital International Investors boosted its stake in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the period. Capital World Investors boosted its stake in shares of 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 purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its stake 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 during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company'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 sale, the insider owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,108 shares of company stock worth $36,771,200. Corporate insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on V. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Barclays reissued an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Evercore ISI began coverage on shares of Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Visa in a research note on Thursday. They set a "buy" rating and a $410.00 target price for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $375.52.
Check Out Our Latest Stock Analysis on V
Visa Stock Down 0.3%
Shares of V traded down $0.91 during mid-day trading on Friday, hitting $348.90. 4,916,998 shares of the company traded hands, compared to its average volume of 6,795,706. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The business has a 50 day moving average of $356.82 and a 200 day moving average of $343.63. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $643.78 billion, a PE ratio of 35.07, a price-to-earnings-growth ratio of 2.37 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. Visa's quarterly revenue was up 9.3% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's dividend payout ratio is presently 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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