DUTCH ASSET Corp acquired a new stake in shares of Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,878 shares of the credit-card processor's stock, valued at approximately $2,763,000. Visa accounts for approximately 2.1% of DUTCH ASSET Corp's portfolio, making the stock its 13th biggest position.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clayton Financial Group LLC boosted its position in shares of Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock worth $25,000 after purchasing an additional 58 shares during the period. PayPay Securities Corp raised its position in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock valued at $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. bought a new stake in shares of Visa during the 4th quarter valued at $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% during the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after buying an additional 50 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Visa during the 4th quarter valued at $30,000. 82.15% of the stock is owned by hedge funds and other institutional investors.
Trending Headlines about Visa
Here are the key news stories impacting Visa this week:
Insider Activity
In other news, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares of the company's stock, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 31,455 shares of the business's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. This represents a 67.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.12% of the company's stock.
Visa Stock Performance
V opened at $327.67 on Monday. The stock has a market capitalization of $587.76 billion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.75 and a beta of 0.77. The company has a fifty day moving average of $321.23 and a 200 day moving average of $324.20. Visa Inc. has a fifty-two week low of $293.89 and a fifty-two week high of $359.66. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $10.75 billion. Visa had a net margin of 51.68% and a return on equity of 65.00%. Visa's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.76 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa declared that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa's dividend payout ratio (DPR) is presently 23.34%.
Analyst Upgrades and Downgrades
V has been the subject of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $389.00 price target on shares of Visa in a research note on Wednesday, April 29th. Sanford C. Bernstein restated an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Oppenheimer reaffirmed an "outperform" rating and issued a $403.00 price objective (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Weiss Ratings cut Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 16th. Finally, Truist Financial set a $371.00 target price on Visa and gave the company a "buy" rating in a research note on Tuesday, May 12th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $387.78.
Check Out Our Latest Stock Report on Visa
Visa Profile
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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