LGT Group Foundation decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 8.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 307,221 shares of the credit-card processor's stock after selling 29,959 shares during the quarter. Visa accounts for approximately 1.5% of LGT Group Foundation's investment portfolio, making the stock its 16th largest position. LGT Group Foundation's holdings in Visa were worth $107,669,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of V. Vanguard Group Inc. lifted its holdings in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the period. Capital International Investors increased its holdings in shares of Visa by 3.8% during the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after acquiring an additional 866,596 shares in the last quarter. Capital World Investors lifted 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 valued at $7,356,614,000 after buying an additional 241,057 shares in the last quarter. Northern Trust Corp boosted its stake in Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after purchasing an additional 2,785,707 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,630 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 46,214 shares of the firm's 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 completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at approximately $9,772,810. The trade was a 63.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,100 shares of company stock valued at $27,643,224. Company insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating on the stock. Raymond James Financial restated an "outperform" rating on shares of Visa in a research report on Wednesday, July 30th. Oppenheimer raised their target price on shares of Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price objective for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $380.84.
Check Out Our Latest Stock Analysis on V
Visa Stock Performance
V opened at $335.94 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day simple moving average of $352.21 and a two-hundred day simple moving average of $347.30. The firm has a market cap of $615.70 billion, a P/E ratio of 32.81, a PEG ratio of 2.25 and a beta of 0.94. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to analyst estimates of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%. The firm's revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 earnings per share. Equities analysts forecast 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 will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's payout ratio is 23.05%.
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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