Manning & Napier Advisors LLC cut its position in Visa Inc. (NYSE:V - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 518,052 shares of the credit-card processor's stock after selling 198,911 shares during the period. Visa comprises about 2.2% of Manning & Napier Advisors LLC's portfolio, making the stock its 10th largest position. Manning & Napier Advisors LLC's holdings in Visa were worth $181,557,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Lakeridge Wealth Management LLC raised its holdings in shares of Visa by 5.7% during the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the period. Blue Rock Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC raised its holdings in shares of Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. King Wealth Management Group raised its holdings in shares of Visa by 9.0% during the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after acquiring an additional 6,172 shares during the period. Finally, Eagle Strategies LLC raised its holdings in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after acquiring an additional 63 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now owns 11,925 shares in the company, valued at $4,121,041.50. The trade was a 17.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,098 shares of company stock valued at $36,738,526. Company insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of V stock opened at $338.04 on Monday. The company has a market capitalization of $623.73 billion, a price-to-earnings ratio of 33.97, a PEG ratio of 2.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The company has a 50-day simple moving average of $351.78 and a 200 day simple moving average of $338.94. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. Visa's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.51 EPS. On average, sell-side analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The business also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Macquarie decreased their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Truist Financial started 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. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Finally, Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Read Our Latest Research Report on V
Visa 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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