Edgestream Partners L.P. reduced its position in Visa Inc. (NYSE:V - Free Report) by 93.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 969 shares of the credit-card processor's stock after selling 13,728 shares during the quarter. Edgestream Partners L.P.'s holdings in Visa were worth $340,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Hirtle Callaghan & Co LLC raised its holdings in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares during the period. FWL Investment Management LLC raised its stake in Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the period. Capstone Financial Advisors Inc. lifted its position in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after buying an additional 30 shares during the last quarter. Headinvest LLC boosted its stake in shares of Visa by 0.8% during the 4th quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock worth $1,265,000 after acquiring an additional 30 shares during the period. Finally, Kennebec Savings Bank increased its holdings in shares of Visa by 0.9% during the 1st quarter. Kennebec Savings Bank now owns 3,372 shares of the credit-card processor's stock worth $1,182,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Stock Performance
Visa stock opened at $348.90 on Monday. The firm has a 50 day simple moving average of $356.82 and a 200-day simple moving average of $344.02. The stock has a market cap of $643.78 billion, a price-to-earnings ratio of 35.07, a price-to-earnings-growth ratio of 2.36 and a beta of 0.92. 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 announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the business earned $2.51 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.
Insiders Place Their Bets
In other Visa news, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock worth $36,771,200 in the last ninety days. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
V has been the topic of several recent research reports. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Visa in a research report on Thursday. They issued a "buy" rating and a $410.00 price target for the company. UBS Group increased their price target on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Macquarie dropped their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group started coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $375.52.
Read Our Latest Stock Analysis on V
Visa 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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