Envestnet Portfolio Solutions Inc. cut its holdings in Visa Inc. (NYSE:V - Free Report) by 16.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,425 shares of the credit-card processor's stock after selling 29,870 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Visa were worth $53,419,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in V. Lakeridge Wealth Management LLC increased its stake in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock valued at $528,000 after buying an additional 81 shares during the period. Blue Rock Wealth Management LLC purchased a new stake in shares of Visa in the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC increased its stake in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. King Wealth Management Group raised its holdings in Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after purchasing an additional 6,172 shares in the last quarter. Finally, Eagle Strategies LLC lifted its position in Visa by 2.5% in the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
V has been the topic of several recent analyst reports. Truist Financial began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. BMO Capital Markets upped their price objective on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. UBS Group increased their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Five 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 stock. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $372.80.
Get Our Latest Stock Report on Visa
Insiders Place Their Bets
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $4,363,500.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 101,098 shares of company stock valued at $36,738,526 over the last quarter. Company insiders own 0.13% of the company's stock.
Visa Trading Down 0.7%
V traded down $2.34 during trading on Friday, hitting $338.04. The company's stock had a trading volume of 19,326,861 shares, compared to its average volume of 7,085,858. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51. The stock has a market cap of $623.73 billion, a PE ratio of 33.97, a PEG ratio of 2.29 and a beta of 0.94. The firm's 50 day moving average price is $351.69 and its 200-day moving average price is $338.37. 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 (NYSE:V - Get Free Report) last released its 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. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same period in the prior year, the firm posted $2.51 earnings per share. The business's quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.
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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