Phoenix Financial Ltd. lessened its position in shares of Visa Inc. (NYSE:V - Free Report) by 34.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,414 shares of the credit-card processor's stock after selling 27,287 shares during the quarter. Phoenix Financial Ltd.'s holdings in Visa were worth $18,414,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Lakeridge Wealth Management LLC lifted its stake in shares of Visa by 5.7% during the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after acquiring an additional 81 shares during the last quarter. Blue Rock Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter worth approximately $306,000. Aptus Capital Advisors LLC lifted its stake in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares during the last quarter. Eagle Strategies LLC lifted its stake in shares of Visa by 2.5% during the 4th quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after acquiring an additional 63 shares during the last quarter. Finally, Rafferty Asset Management LLC lifted its stake in shares of Visa by 7.7% during the 4th quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after acquiring an additional 43,546 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Buying and Selling
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel owned 11,925 shares in the company, valued at $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of the firm's 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 completion of the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 101,108 shares of company stock valued at $36,771,200 over the last ninety days. Company insiders own 0.13% of the company's stock.
Visa Stock Performance
Shares of NYSE:V traded up $2.96 during trading on Friday, hitting $356.93. The stock had a trading volume of 3,915,274 shares, compared to its average volume of 5,404,370. Visa Inc. has a 12-month low of $254.51 and a 12-month high of $375.51. The stock has a market capitalization of $658.60 billion, a price-to-earnings ratio of 35.87, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The stock has a 50-day simple moving average of $356.30 and a two-hundred day simple moving average of $345.22.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the company earned $2.51 earnings per share. On average, equities research analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently announced 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. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is 23.72%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on V. Deutsche Bank Aktiengesellschaft started coverage on Visa in a research note on Thursday, July 17th. They set a "buy" rating and a $410.00 price target for the company. Evercore ISI started coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. UBS Group upped their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a report on Wednesday, May 28th. Finally, Oppenheimer upped their target price on Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a report on Wednesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $375.52.
Get Our Latest Stock Report on V
Visa 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.
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