Krane Funds Advisors LLC grew its stake in shares of Visa Inc. (NYSE:V - Free Report) by 101.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,740 shares of the credit-card processor's stock after acquiring an additional 878 shares during the period. Krane Funds Advisors LLC's holdings in Visa were worth $610,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Hirtle Callaghan & Co LLC grew its holdings in shares of Visa by 1.3% during the fourth quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock worth $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC boosted its position in Visa by 0.5% during the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after buying an additional 29 shares during the period. Strategic Family Wealth Counselors L.L.C. grew its position in Visa by 0.4% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock worth $2,302,000 after acquiring an additional 30 shares during the last quarter. Capstone Financial Advisors Inc. increased its stake in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock worth $276,000 after buying an additional 30 shares during the period. Finally, Headinvest LLC raised its stake in shares of Visa by 0.8% during the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after acquiring an additional 30 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's 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 sale, the general counsel directly owned 11,925 shares in the company, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,478 shares of company stock worth $33,717,733. Company insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently commented on V. Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price for the company. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 price target for the company. Piper Sandler lifted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, UBS Group upped their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Five investment 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.
View Our Latest Research Report on V
Visa Price Performance
Shares of V opened at $358.70 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm's fifty day simple moving average is $355.33 and its 200-day simple moving average is $340.96. The firm has a market capitalization of $661.86 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.40 and a beta of 0.92. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $375.51.
Visa (NYSE:V - Get Free Report) last released its quarterly 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. 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 the consensus estimate of $9.57 billion. During the same quarter last year, the business posted $2.51 EPS. The firm's quarterly revenue was up 9.3% compared to the same quarter last year. Equities 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. Stockholders of record on Tuesday, May 13th were paid 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 dividend yield of 0.66%. Visa's dividend payout ratio (DPR) is 23.72%.
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
