Mizuho Securities USA LLC cut its stake in Visa Inc. (NYSE:V - Free Report) by 15.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,989 shares of the credit-card processor's stock after selling 25,796 shares during the period. Visa accounts for approximately 1.0% of Mizuho Securities USA LLC's portfolio, making the stock its 14th largest position. Mizuho Securities USA LLC's holdings in Visa were worth $48,360,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of V. von Borstel & Associates Inc. purchased a new position in Visa in the 1st quarter worth approximately $27,000. Measured Risk Portfolios Inc. purchased a new position in Visa in the 4th quarter worth approximately $47,000. O Brien Wealth Partners LLC purchased a new position in Visa in the 1st quarter worth approximately $54,000. Global X Japan Co. Ltd. purchased a new position in Visa in the 1st quarter worth approximately $56,000. Finally, Cedar Mountain Advisors LLC raised its holdings in Visa by 28.5% in the 1st quarter. Cedar Mountain Advisors LLC now owns 167 shares of the credit-card processor's stock worth $59,000 after acquiring an additional 37 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Visa Trading Up 1.4%
Shares of Visa stock traded up $4.77 on Friday, reaching $336.86. The company had a trading volume of 6,071,880 shares, compared to its average volume of 6,296,455. The firm's 50 day moving average price is $352.79 and its two-hundred day moving average price is $347.26. The firm has a market cap of $617.39 billion, a PE ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94. Visa Inc. has a 52-week low of $258.74 and a 52-week high of $375.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, beating analysts' consensus estimates of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion during the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter in the previous year, the business posted $2.42 earnings per share. The business's quarterly revenue was up 14.3% compared to the same quarter last year. Sell-side analysts predict 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. Investors of record on Tuesday, August 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio (DPR) is 23.05%.
Wall Street Analyst Weigh In
A number of research firms have commented on V. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $359.00 to $425.00 in a research report on Thursday, June 5th. Morgan Stanley lifted their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Jefferies Financial Group lifted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Macquarie lifted their target price on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Five equities 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $380.84.
View Our Latest Report on V
Insiders Place Their Bets
In related news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction on Thursday, June 5th. The shares were 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 owned 26,413 shares in the company, valued at $9,772,810. This represents a 63.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 75,100 shares of company stock worth $27,643,224 over the last ninety days. Insiders own 0.13% of the company's stock.
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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