Ninety One UK Ltd trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 11.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,250,073 shares of the credit-card processor's stock after selling 835,768 shares during the quarter. Visa accounts for about 6.1% of Ninety One UK Ltd's holdings, making the stock its 2nd largest position. Ninety One UK Ltd owned about 0.34% of Visa worth $2,190,401,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of V. Vanguard Group Inc. increased its holdings in Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC raised its holdings in Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors raised its stake in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors raised its stake in Visa by 1.0% during the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Visa by 18.0% in the 4th 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 in the last quarter. 82.15% of the stock is owned by institutional investors.
Visa Price Performance
NYSE V traded up $2.35 during trading hours on Wednesday, hitting $356.90. 7,295,817 shares of the company's stock traded hands, compared to its average volume of 6,839,065. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The company has a market capitalization of $658.54 billion, a PE ratio of 35.87, a PEG ratio of 2.42 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 firm's 50-day moving average is $356.43 and its 200-day moving average is $342.00.
Visa (NYSE:V - Get Free Report) last posted 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. The company had revenue of $9.59 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.51 EPS. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on V. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. UBS Group increased their price objective on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Jefferies Financial Group lifted their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating for the company. Finally, William Blair restated an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $372.84.
Read Our Latest Analysis on Visa
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by insiders.
About Visa
(
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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