ProShare Advisors LLC boosted its stake in Visa Inc. (NYSE:V - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 498,611 shares of the credit-card processor's stock after buying an additional 33,530 shares during the quarter. ProShare Advisors LLC's holdings in Visa were worth $174,868,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of V. Vanguard Group Inc. increased its position in shares of Visa by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 160,975,832 shares of the credit-card processor's stock valued at $56,455,834,000 after purchasing an additional 1,054,343 shares during the last quarter. Capital World Investors increased its position in shares of Visa by 0.8% during the 3rd quarter. Capital World Investors now owns 24,792,246 shares of the credit-card processor's stock valued at $8,463,484,000 after purchasing an additional 193,288 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Visa by 4.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,114,674 shares of the credit-card processor's stock valued at $4,475,403,000 after purchasing an additional 530,995 shares during the last quarter. Legal & General Group Plc increased its position in shares of Visa by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 12,458,913 shares of the credit-card processor's stock valued at $4,253,224,000 after purchasing an additional 399,845 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Visa by 12.2% during the 3rd quarter. Invesco Ltd. now owns 11,913,505 shares of the credit-card processor's stock valued at $4,067,032,000 after purchasing an additional 1,298,435 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Key Visa News
Here are the key news stories impacting Visa this week:
Insiders Place Their Bets
In other Visa news, Director Lloyd Carney sold 650 shares of the firm's stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director owned 2,679 shares of the company's stock, valued at $829,471.98. This trade represents a 19.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ryan Mcinerney sold 31,455 shares of the firm's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the completion of the sale, the chief executive officer directly owned 15,174 shares in the company, valued at approximately $5,161,284.36. The trade was a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,744 shares of company stock worth $14,356,010 in the last quarter. 0.12% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $389.00 target price on shares of Visa in a research report on Wednesday, April 29th. Truist Financial set a $371.00 target price on Visa and gave the company a "buy" rating in a research report on Tuesday, May 12th. Bank of America began coverage on Visa in a research report on Thursday, March 5th. They set a "buy" rating and a $410.00 target price for the company. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target on shares of Visa in a research note on Wednesday, April 29th. Finally, Macquarie Infrastructure reiterated an "outperform" rating and set a $410.00 price target on shares of Visa in a research note on Friday, January 30th. Six equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Visa currently has an average rating of "Buy" and an average target price of $387.67.
Get Our Latest Analysis on Visa
Visa Stock Up 2.3%
Shares of NYSE V opened at $333.14 on Tuesday. Visa Inc. has a 52 week low of $293.89 and a 52 week high of $375.51. The business has a 50-day simple moving average of $311.47 and a two-hundred day simple moving average of $325.64. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.64. The company has a market cap of $597.57 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.74 and a beta of 0.78.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 EPS for the quarter, topping the consensus estimate of $3.10 by $0.21. Visa had a return on equity of 65.00% and a net margin of 51.68%.The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter last year, the company earned $2.76 EPS. The firm's revenue was up 17.1% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa announced that its board has authorized a stock repurchase plan on Tuesday, April 28th that allows the company to repurchase $20.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Tuesday, May 12th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, May 12th. This represents a $2.68 annualized dividend and a yield of 0.8%. Visa's dividend payout ratio (DPR) is currently 23.34%.
About Visa
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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