Financiere des Professionnels Fonds d investissement inc. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 22.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,465 shares of the credit-card processor's stock after selling 16,145 shares during the period. Visa makes up about 1.2% of Financiere des Professionnels Fonds d investissement inc.'s portfolio, making the stock its 18th biggest position. Financiere des Professionnels Fonds d investissement inc.'s holdings in Visa were worth $19,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of V. von Borstel & Associates Inc. purchased a new stake in shares of Visa in the first quarter worth approximately $27,000. Sellwood Investment Partners LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Visa in the fourth quarter worth approximately $47,000. Finally, Navigoe LLC purchased a new stake in shares of Visa in the fourth quarter worth approximately $53,000. 82.15% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated 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 completion of the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. The trade was a 94.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 value of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, 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. In the last 90 days, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by company insiders.
Visa Stock Down 0.6%
Visa stock opened at $356.65 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $658.08 billion, a price-to-earnings ratio of 35.84, a PEG ratio of 2.43 and a beta of 0.92. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The business has a fifty day moving average price of $356.17 and a 200-day moving average price of $341.92.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The business's quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given 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 0.66%. Visa's dividend payout ratio is currently 23.72%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on V. Barclays reiterated an "overweight" rating on shares of Visa in a report on Friday, June 13th. Citigroup began coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Evercore ISI began coverage on Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective on the stock. UBS Group raised their price objective on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Macquarie reduced their price objective on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Five 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $372.84.
Read Our Latest Stock Report on V
About Visa
(
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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