Lighthouse Investment Partners LLC bought a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 55,130 shares of the credit-card processor's stock, valued at approximately $18,820,000. Visa comprises about 0.6% of Lighthouse Investment Partners LLC's holdings, making the stock its 26th biggest position.
A number of other institutional investors also recently made changes to their positions in the stock. Sonoma Allocations LLC purchased a new position in Visa in the 3rd quarter valued at about $710,000. AQR Capital Management LLC grew its holdings in shares of Visa by 1.8% during the second quarter. AQR Capital Management LLC now owns 1,241,348 shares of the credit-card processor's stock worth $438,196,000 after buying an additional 21,401 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its holdings in shares of Visa by 5.9% during the second quarter. Baltimore Washington Financial Advisors Inc. now owns 95,150 shares of the credit-card processor's stock worth $33,783,000 after buying an additional 5,295 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of Visa by 2.6% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 574,043 shares of the credit-card processor's stock worth $198,596,000 after buying an additional 14,581 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Visa by 24.1% in the third quarter. Federated Hermes Inc. now owns 823,262 shares of the credit-card processor's stock valued at $281,045,000 after buying an additional 159,906 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts recently issued reports on V shares. HSBC raised shares of Visa from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 8th. Evercore set a $380.00 price target on Visa in a report on Friday, December 12th. TD Cowen restated a "buy" rating on shares of Visa in a report on Friday, January 30th. Daiwa Securities Group raised Visa from a "neutral" rating to an "outperform" rating and set a $370.00 price objective for the company in a research report on Monday, February 2nd. Finally, Cantor Fitzgerald upgraded Visa to a "strong-buy" rating in a research note on Tuesday, January 27th. Seven analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $392.65.
Get Our Latest Research Report on Visa
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares of the company's stock, valued at $3,282,641.18. This trade represents a 52.73% 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, Director Lloyd Carney sold 650 shares of Visa stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $309.62, for a total transaction of $201,253.00. Following the sale, the director owned 2,679 shares in the company, valued at $829,471.98. This represents a 19.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company's stock.
Visa Trading Up 1.0%
Shares of V stock opened at $310.10 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.51. Visa Inc. has a fifty-two week low of $299.00 and a fifty-two week high of $375.51. The firm's 50 day moving average price is $324.62 and its two-hundred day moving average price is $335.62. The stock has a market cap of $562.88 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating analysts' consensus estimates of $3.14 by $0.03. The business had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.69 billion. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business's revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.75 EPS. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 10th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, February 10th. Visa's dividend payout ratio (DPR) is presently 25.14%.
Visa Profile
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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