Lifeworks Advisors LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 68.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,875 shares of the credit-card processor's stock after purchasing an additional 1,569 shares during the quarter. Lifeworks Advisors LLC's holdings in Visa were worth $1,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in V. Geode Capital Management LLC raised 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 purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors raised 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 purchasing an additional 866,596 shares during the last quarter. Capital World Investors raised 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 purchasing an additional 241,057 shares during the last quarter. Northern Trust Corp raised 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 purchasing an additional 2,785,707 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Visa in the fourth quarter worth about $5,171,271,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on the company. Citigroup assumed coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Visa in a research report on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Mizuho upgraded Visa from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Oppenheimer boosted 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. Five investment 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 presently has a consensus rating of "Moderate Buy" and an average price target of $375.52.
Get Our Latest Stock Analysis on V
Insider Buying and Selling
In other news, insider Paul D. Fabara sold 46,214 shares of the business's stock in a transaction on Thursday, June 5th. The stock was 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 of the company's stock, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 value of $889,868.50. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is owned by insiders.
Visa Stock Up 0.8%
Shares of V traded up $2.96 during mid-day trading on Friday, reaching $356.93. The company's stock had a trading volume of 3,915,274 shares, compared to its average volume of 5,404,370. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The stock has a market cap of $658.60 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 2.39 and a beta of 0.92. 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 company's 50 day moving average is $356.30 and its 200 day moving average is $345.00.
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 for the quarter, beating 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 company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same period last year, the business posted $2.51 EPS. The company's revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's dividend payout ratio is presently 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.
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