Oakworth Capital Inc. lowered its stake in Visa Inc. (NYSE:V - Free Report) by 26.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 6,948 shares of the credit-card processor's stock after selling 2,440 shares during the quarter. Oakworth Capital Inc.'s holdings in Visa were worth $2,435,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Money Concepts Capital Corp raised its holdings in shares of Visa by 4.4% during the first quarter. Money Concepts Capital Corp now owns 3,110 shares of the credit-card processor's stock valued at $1,090,000 after acquiring an additional 130 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in shares of Visa by 13.3% during the first quarter. Achmea Investment Management B.V. now owns 171,875 shares of the credit-card processor's stock valued at $60,235,000 after acquiring an additional 20,142 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in shares of Visa by 2.9% during the first quarter. Jaffetilchin Investment Partners LLC now owns 20,884 shares of the credit-card processor's stock valued at $7,319,000 after acquiring an additional 580 shares in the last quarter. Canvas Wealth Advisors LLC raised its holdings in shares of Visa by 7.3% during the first quarter. Canvas Wealth Advisors LLC now owns 2,322 shares of the credit-card processor's stock valued at $770,000 after acquiring an additional 158 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Visa by 16.9% during the first quarter. Illinois Municipal Retirement Fund now owns 119,121 shares of the credit-card processor's stock valued at $41,747,000 after acquiring an additional 17,257 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Insider Activity at Visa
In other Visa news, insider Paul D. Fabara sold 46,214 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at approximately $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $188,186.28. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock valued at $36,738,526 over the last ninety days. Insiders own 0.13% of the company's stock.
Visa Trading Up 0.9%
Visa stock opened at $349.13 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The stock has a market capitalization of $644.20 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 2.34 and a beta of 0.94. The business's fifty day moving average is $353.30 and its 200 day moving average is $340.01.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the firm posted $2.51 earnings per share. Visa's revenue was up 9.3% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio (DPR) is presently 23.72%.
Analyst Ratings Changes
A number of equities analysts recently commented on V shares. Truist Financial started coverage on Visa in a report on Monday, June 2nd. They set a "buy" rating and a $400.00 target price for the company. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Visa in a research note on Friday, June 13th. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Finally, BMO Capital Markets upped 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 investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $372.80.
View Our Latest Stock Report on V
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.
Further Reading
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