Impax Asset Management Group plc reduced its stake in Visa Inc. (NYSE:V - Free Report) by 60.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,284 shares of the credit-card processor's stock after selling 597,264 shares during the period. Impax Asset Management Group plc's holdings in Visa were worth $133,775,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management boosted its holdings in Visa by 15.7% in the first quarter. Brookstone Capital Management now owns 43,830 shares of the credit-card processor's stock valued at $15,361,000 after purchasing an additional 5,952 shares in the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of Visa by 13.4% during the first quarter. Catalyst Capital Advisors LLC now owns 2,560 shares of the credit-card processor's stock worth $897,000 after purchasing an additional 303 shares during the last quarter. Huntleigh Advisors Inc. raised its stake in shares of Visa by 2.2% during the first quarter. Huntleigh Advisors Inc. now owns 14,844 shares of the credit-card processor's stock worth $5,202,000 after purchasing an additional 319 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Visa by 3.8% during the first quarter. IFM Investors Pty Ltd now owns 324,902 shares of the credit-card processor's stock worth $113,865,000 after purchasing an additional 12,042 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in Visa in the first quarter worth $525,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Price Performance
Shares of Visa stock traded down $2.20 during trading on Thursday, hitting $355.56. The stock had a trading volume of 6,115,751 shares, compared to its average volume of 6,837,809. 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 firm has a market cap of $656.07 billion, a P/E ratio of 35.74, a PEG ratio of 2.40 and a beta of 0.92. The business has a fifty day moving average of $356.66 and a two-hundred day moving average of $342.11. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.51 earnings per share. On average, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.
Insider Transactions at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was 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 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 101,108 shares of company stock valued at $36,771,200 over the last three months. Company insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
V has been the topic of several research reports. Barclays reissued an "overweight" rating on shares of Visa in a report on Friday, June 13th. 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. Jefferies Financial Group raised their price objective on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating on the stock. Finally, Truist Financial assumed coverage on Visa in a research note on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.84.
Read Our Latest Stock Report 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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