Cushing Capital Partners LLC acquired a new position in Visa Inc. (NYSE:V - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 3,720 shares of the credit-card processor's stock, valued at approximately $1,304,000. Visa accounts for about 1.2% of Cushing Capital Partners LLC's portfolio, making the stock its 25th biggest position.
Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 in the last quarter. Geode Capital Management LLC increased its holdings in Visa by 4.4% in 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 purchasing an additional 1,689,926 shares in the last quarter. Capital International Investors lifted its stake in Visa by 3.8% in 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 buying an additional 866,596 shares during the period. Capital World Investors boosted its holdings in shares of Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Insider Activity
In related news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 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 transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 101,098 shares of company stock valued at $36,738,526 over the last three months. Corporate insiders own 0.13% of the company's stock.
Visa Stock Performance
NYSE V opened at $357.89 on Wednesday. The company has a fifty day moving average price of $351.22 and a 200-day moving average price of $338.19. The firm has a market cap of $660.37 billion, a price-to-earnings ratio of 35.97, a PEG ratio of 2.39 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 EPS. As a group, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently announced 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 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Analyst Ratings Changes
A number of research firms recently issued reports on V. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. The Goldman Sachs Group began coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "neutral" rating for the company. Barclays reissued an "overweight" rating on shares of Visa in a research report on Friday. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Truist Financial began coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.80.
Read Our Latest Stock Report on V
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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