Nippon Life Global Investors Americas Inc. decreased its holdings in Visa Inc. (NYSE:V - Free Report) by 19.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,320 shares of the credit-card processor's stock after selling 1,050 shares during the period. Nippon Life Global Investors Americas Inc.'s holdings in Visa were worth $1,514,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Keystone Global Partners LLC bought a new stake in Visa during the 1st quarter valued at $26,000. von Borstel & Associates Inc. bought a new stake in Visa during the 1st quarter valued at $27,000. 1 North Wealth Services LLC bought a new stake in Visa during the 1st quarter valued at $38,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the 4th quarter valued at $47,000. Finally, O Brien Wealth Partners LLC bought a new stake in Visa during the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Transactions at Visa
In other news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated 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 $190,001.34. This represents a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the stock in a transaction dated 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 sale, the insider directly owned 26,413 shares in the company, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,293 shares of company stock valued at $8,114,295 in the last three months. 0.13% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on V. The Goldman Sachs Group began coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. UBS Group reiterated a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Macquarie upped their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a report on Thursday, July 31st. Finally, Barclays restated an "overweight" rating and issued a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $385.96.
Read Our Latest Research Report on V
Visa Stock Down 2.3%
Shares of NYSE:V traded down $7.98 during midday trading on Friday, reaching $343.02. The company's stock had a trading volume of 5,447,231 shares, compared to its average volume of 5,060,212. The firm has a 50 day moving average of $348.51 and a 200-day moving average of $347.22. The firm has a market capitalization of $628.67 billion, a P/E ratio of 33.50, a PEG ratio of 2.28 and a beta of 0.92. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.52. Visa Inc. has a 12-month low of $268.23 and a 12-month high of $375.51.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The firm had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. Visa had a net margin of 52.16% and a return on equity of 58.93%. The company's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.42 EPS. On average, research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Visa's dividend payout ratio is currently 23.05%.
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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