Sone Capital Management LLC purchased a new stake in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,798 shares of the credit-card processor's stock, valued at approximately $5,309,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverstone Advisors LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $217,000. Blue Rock Wealth Management LLC bought a new stake in shares of Visa in the 4th quarter valued at approximately $306,000. Aptus Capital Advisors LLC grew its stake in shares of Visa by 19.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock valued at $57,727,000 after purchasing an additional 30,185 shares during the period. Journey Strategic Wealth LLC grew its stake in shares of Visa by 16.4% in the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after purchasing an additional 1,361 shares during the period. Finally, King Wealth Management Group grew its stake in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after purchasing an additional 6,172 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Visa Trading Down 0.1%
Visa stock traded down $0.40 during mid-day trading on Thursday, hitting $357.90. 4,931,414 shares of the company's stock were exchanged, compared to its average volume of 7,018,792. The firm has a market capitalization of $660.38 billion, a P/E ratio of 36.08, a PEG ratio of 2.33 and a beta of 0.96. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company's 50 day simple moving average is $340.60 and its 200-day simple moving average is $330.88.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.51 EPS. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio (DPR) is presently 23.72%.
Wall Street Analyst Weigh In
Several brokerages have recently commented on V. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their target price on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, Citigroup reissued a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average target price of $362.38.
Read Our Latest Stock Analysis on Visa
Insiders Place Their Bets
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This trade represents a 94.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the sale, the insider now owns 26,413 shares of the company's stock, valued at $9,377,671.52. This trade represents a 35.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,948 shares of company stock worth $41,548,282. Corporate insiders own 0.13% of the company's stock.
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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