Exchange Traded Concepts LLC Has $5.59 Million Stake in Visa Inc. (NYSE:V)

Exchange Traded Concepts LLC cut its stake in shares of Visa Inc. (NYSE:V - Free Report) by 15.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,956 shares of the credit-card processor's stock after selling 2,981 shares during the quarter. Exchange Traded Concepts LLC's holdings in Visa were worth $5,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Visa during the 4th quarter worth approximately $5,171,271,000. GAMMA Investing LLC raised its stake in Visa by 38,416.3% during the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock worth $5,173,271,000 after buying an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after buying an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new stake in Visa during the 4th quarter worth about $1,955,403,000. Finally, Proficio Capital Partners LLC grew its holdings in Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Truist Financial started 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. Evercore ISI initiated coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target on the stock. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Finally, BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.

Visa Stock Performance

Shares of V stock opened at $352.75 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average of $349.76 and a 200-day moving average of $337.77. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a market cap of $650.87 billion, a P/E ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94.

Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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 net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business posted $2.51 EPS. The company's revenue for the quarter was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.67%. Visa's dividend payout ratio (DPR) is currently 23.72%.

Insider Buying and Selling

In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The stock was 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 directly owns 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is owned by company insiders.

About Visa

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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