Oxbow Advisors LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 31,768 shares of the credit-card processor's stock after selling 9,521 shares during the quarter. Visa comprises 1.2% of Oxbow Advisors LLC's portfolio, making the stock its 17th largest position. Oxbow Advisors LLC's holdings in Visa were worth $11,133,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. von Borstel & Associates Inc. bought a new position in shares of Visa in the first quarter worth approximately $27,000. Sellwood Investment Partners LLC bought a new position in shares of Visa in the fourth quarter worth approximately $41,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Visa in the fourth quarter worth approximately $47,000. Measured Risk Portfolios Inc. bought a new position in shares of Visa in the fourth quarter worth approximately $47,000. Finally, Navigoe LLC bought a new position in shares of Visa in the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Transactions at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was 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 owned 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,108 shares of company stock worth $36,771,200. 0.13% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
V has been the topic of several analyst reports. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. Susquehanna reiterated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Piper Sandler raised their target price on shares of Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Citigroup began coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating on the stock. Five investment 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $372.84.
Check Out Our Latest Report on V
Visa Stock Performance
Shares of NYSE:V opened at $347.71 on Monday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The stock has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a PEG ratio of 2.36 and a beta of 0.92. The firm has a fifty day simple moving average of $356.93 and a two-hundred day simple moving average of $342.86. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45.
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 (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 analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $2.51 EPS. On average, analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently announced 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 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%.
Visa Profile
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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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