Seilern Investment Management Ltd decreased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 39.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 24,340 shares of the credit-card processor's stock after selling 15,560 shares during the quarter. Visa accounts for about 0.6% of Seilern Investment Management Ltd's investment portfolio, making the stock its 19th biggest position. Seilern Investment Management Ltd's holdings in Visa were worth $8,530,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also modified their holdings of V. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during the fourth 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 during the period. Geode Capital Management LLC lifted its holdings in Visa by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors lifted its holdings in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors raised its stake in shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors.
Visa Stock Performance
Shares of V stock opened at $370.44 on Friday. Visa Inc. has a one year low of $252.70 and a one year high of $371.00. 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 stock has a market cap of $683.52 billion, a PE ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock has a 50-day moving average of $345.45 and a 200-day moving average of $335.70.
Visa (NYSE:V - Get Free Report) last announced its quarterly 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 company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same period in the prior year, the company earned $2.51 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.64%. Visa's payout ratio is presently 23.72%.
Analysts Set New Price Targets
V has been the subject of a number of research analyst reports. William Blair reiterated an "outperform" rating on shares of Visa in a research note on Wednesday, April 30th. BMO Capital Markets lifted their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Piper Sandler lifted their price target on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Jefferies Financial Group lifted their price target on Visa from $400.00 to $410.00 and gave the company a "buy" rating in a report on Tuesday, May 27th. Finally, Citigroup assumed coverage on Visa in a report on Monday, June 2nd. They issued a "buy" rating for the company. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Read Our Latest Report on V
Insider Buying and Selling
In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $185,576.46. This trade represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total value of $13,395,133.50. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Over the last three months, insiders sold 168,162 shares of company stock worth $58,645,479. 0.13% of the stock is owned by corporate insiders.
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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