Ninety One North America Inc. lessened its position in Visa Inc. (NYSE:V - Free Report) by 19.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 308,965 shares of the credit-card processor's stock after selling 75,162 shares during the quarter. Visa accounts for 7.3% of Ninety One North America Inc.'s portfolio, making the stock its largest position. Ninety One North America Inc.'s holdings in Visa were worth $108,280,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its stake in Visa by 6.3% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,312 shares of the credit-card processor's stock worth $16,231,000 after buying an additional 2,742 shares during the period. Horst & Graben Wealth Management LLC increased its stake in shares of Visa by 9.7% during the first quarter. Horst & Graben Wealth Management LLC now owns 1,026 shares of the credit-card processor's stock valued at $360,000 after buying an additional 91 shares during the period. Davidson Investment Advisors increased its stake in shares of Visa by 3.0% during the first quarter. Davidson Investment Advisors now owns 89,395 shares of the credit-card processor's stock valued at $31,329,000 after buying an additional 2,565 shares during the period. Family Capital Management Inc. increased its stake in shares of Visa by 14.0% during the first quarter. Family Capital Management Inc. now owns 2,475 shares of the credit-card processor's stock valued at $867,000 after buying an additional 303 shares during the period. Finally, Planning Directions Inc. purchased a new position in shares of Visa during the first quarter valued at $857,000. Institutional investors own 82.15% of the company's stock.
Visa Stock Performance
NYSE:V traded down $8.17 during trading hours on Friday, hitting $347.71. 7,576,795 shares of the company were exchanged, compared to its average volume of 6,829,633. The stock has a market capitalization of $641.58 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 2.43 and a beta of 0.92. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. 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 price is $356.93 and its 200-day moving average price is $342.37.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm earned $2.51 EPS. Visa's revenue was up 9.3% compared to the same quarter last year. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Insider Buying and Selling at Visa
In other Visa news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were 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. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,108 shares of company stock worth $36,771,200. Company insiders own 0.13% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have commented on V shares. Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating on the stock. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating on the stock. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. 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 report on Wednesday, July 2nd. Finally, Truist Financial began coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $372.84.
Read Our Latest Analysis on Visa
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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