Northeast Investment Management trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,452 shares of the credit-card processor's stock after selling 3,356 shares during the quarter. Visa accounts for 4.1% of Northeast Investment Management's holdings, making the stock its 6th largest holding. Northeast Investment Management's holdings in Visa were worth $88,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of V. Vanguard Group Inc. increased its holdings in shares of Visa by 4.6% in 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 acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors increased its holdings in shares of Visa by 3.8% in 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 acquiring an additional 866,596 shares during the last quarter. Capital World Investors increased its holdings in shares of Visa by 1.0% in 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 acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp increased its holdings 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 valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Price Performance
Shares of V traded down $2.20 during mid-day trading on Thursday, hitting $371.11. The company's stock had a trading volume of 4,868,166 shares, compared to its average volume of 6,996,254. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm has a 50-day simple moving average of $348.87 and a 200 day simple moving average of $337.17. The firm has a market capitalization of $684.76 billion, a P/E ratio of 37.41, a P/E/G ratio of 2.33 and a beta of 0.94. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.51 earnings per share. Analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently disclosed 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. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.64%. Visa's dividend payout ratio is presently 23.72%.
Analyst Upgrades and Downgrades
V has been the topic of a number of recent analyst reports. Truist Financial initiated coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective on the stock. Piper Sandler raised their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Wall Street Zen upgraded Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Jefferies Financial Group raised their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Finally, BMO Capital Markets raised their price target on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Read Our Latest Stock Analysis on V
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at $8,642,333.60. The trade was a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,798 shares of company stock valued at $63,008,979. 0.13% of the stock is 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.
Further Reading
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