Procyon Advisors LLC raised its holdings in Visa Inc. (NYSE:V - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,283 shares of the credit-card processor's stock after acquiring an additional 4,602 shares during the period. Visa makes up 1.5% of Procyon Advisors LLC's investment portfolio, making the stock its 12th largest position. Procyon Advisors LLC's holdings in Visa were worth $25,683,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Visa during the fourth quarter valued at about $5,171,271,000. GAMMA Investing LLC increased its position in shares of Visa by 38,416.3% during the 1st quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Visa by 4.6% during 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 buying an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Visa in the 4th quarter worth approximately $1,955,403,000. Finally, Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after buying an additional 3,926,049 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Insider Transactions at Visa
In other news, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total value of $13,395,133.50. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This represents a 59.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $362.77, for a total value of $3,127,077.40. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $194,807.49. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock valued at $41,546,299 in the last three months. 0.13% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms have commented on V. Macquarie decreased their price target on shares of Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday. They issued a "neutral" rating for the company. UBS Group upped their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research report on Wednesday, May 28th. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a report on Thursday, February 13th. Finally, Piper Sandler increased their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Stock Report on Visa
Visa Stock Performance
Shares of V opened at $366.67 on Friday. The company has a 50-day simple moving average of $344.98 and a two-hundred day simple moving average of $335.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $676.56 billion, a PE ratio of 36.96, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $371.00.
Visa (NYSE:V - Get Free Report) last announced 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. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter in the prior year, the company earned $2.51 EPS. The business's revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.
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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