Leith Wheeler Investment Counsel Ltd. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 7.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,389 shares of the credit-card processor's stock after selling 8,057 shares during the period. Visa accounts for approximately 2.5% of Leith Wheeler Investment Counsel Ltd.'s holdings, making the stock its 11th largest position. Leith Wheeler Investment Counsel Ltd.'s holdings in Visa were worth $35,533,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in Visa by 38,416.3% in the 1st 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 in the last quarter. Nuveen LLC purchased a new stake in Visa in the 1st quarter worth $3,518,533,000. Northern Trust Corp increased its stake in Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock worth $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Visa in the 4th quarter worth $673,689,000. Finally, Kovitz Investment Group Partners LLC increased its stake in Visa by 295.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,362,202 shares of the credit-card processor's stock worth $746,550,000 after buying an additional 1,764,781 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
V has been the subject of a number of research analyst reports. Truist Financial cut their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Oppenheimer raised their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. Finally, The Goldman Sachs Group assumed coverage on shares of Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Five 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 stock. Based on data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.
Check Out Our Latest Stock Report on Visa
Insider Buying and Selling at Visa
In related news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $370.00, for a total value of $17,099,180.00. Following the completion of the transaction, the insider directly owned 26,413 shares in the company, valued at approximately $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 over the last ninety days. Corporate insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of V stock opened at $336.80 on Wednesday. The firm has a market cap of $617.28 billion, a price-to-earnings ratio of 32.89, a PEG ratio of 2.24 and a beta of 0.94. The company's 50 day moving average is $351.62 and its 200 day moving average is $347.23. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The business had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same period in the previous year, the company earned $2.42 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate 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 will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's payout ratio is currently 23.05%.
Visa Profile
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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.
See Also
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