San Luis Wealth Advisors LLC lessened its holdings in Visa Inc. (NYSE:V - Free Report) by 36.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,730 shares of the credit-card processor's stock after selling 6,793 shares during the quarter. Visa accounts for approximately 0.9% of San Luis Wealth Advisors LLC's investment portfolio, making the stock its 29th biggest position. San Luis Wealth Advisors LLC's holdings in Visa were worth $4,111,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Visa in the fourth quarter valued at approximately $5,171,271,000. GAMMA Investing LLC increased its stake in 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 worth $5,173,271,000 after acquiring an additional 14,723,050 shares during the period. Vanguard Group Inc. raised its holdings in Visa by 4.6% in 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 acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Visa during the 4th quarter valued at $1,955,403,000. Finally, Proficio Capital Partners LLC grew its holdings in shares of Visa by 17,018.7% during the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Price Performance
Visa stock opened at $357.89 on Wednesday. The stock has a 50-day moving average price of $351.22 and a two-hundred day moving average price of $338.19. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a market capitalization of $660.37 billion, a PE ratio of 35.97, a P/E/G ratio of 2.39 and a beta of 0.94. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.66%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio (DPR) is currently 23.72%.
Insider Activity
In related news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares of the company's stock, valued at $9,904,875. This trade represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,098 shares of company stock valued at $36,738,526. Insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on V. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Truist Financial started coverage on shares of Visa in a report on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price on the stock. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, Citigroup initiated coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating on the stock. Five 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 data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.80.
Check Out Our Latest Analysis on Visa
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.
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