KBC Group NV grew its holdings in Visa Inc. (NYSE:V - Free Report) by 39.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,180,475 shares of the credit-card processor's stock after buying an additional 336,912 shares during the quarter. Visa accounts for 1.3% of KBC Group NV's investment portfolio, making the stock its 12th largest position. KBC Group NV owned about 0.06% of Visa worth $413,709,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors boosted its stake in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after acquiring an additional 866,596 shares during the last quarter. Capital World Investors boosted its stake in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Stock Performance
Shares of Visa stock opened at $355.10 on Tuesday. The business's fifty day simple moving average is $354.01 and its 200-day simple moving average is $340.47. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap of $655.22 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. Visa's revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The company 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 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Insider Buying and Selling
In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's 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 owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,478 shares of company stock valued at $33,717,733. Corporate insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Citigroup initiated coverage on Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Piper Sandler raised their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price target on the stock. Finally, William Blair reissued an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. 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. According to data from MarketBeat, Visa currently has an average rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Analysis on V
Visa Company 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.
Further Reading
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