Sonora Investment Management Group LLC lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,761 shares of the credit-card processor's stock after acquiring an additional 1,926 shares during the period. Visa accounts for approximately 1.5% of Sonora Investment Management Group LLC's portfolio, making the stock its 20th biggest holding. Sonora Investment Management Group LLC's holdings in Visa were worth $18,841,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter worth $27,000. POM Investment Strategies LLC lifted its position in Visa by 48.5% during the fourth quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor's stock worth $31,000 after buying an additional 32 shares during the period. Compass Planning Associates Inc acquired a new stake in Visa in the 4th quarter worth about $32,000. FPC Investment Advisory Inc. grew its holdings in Visa by 377.3% in the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor's stock valued at $36,000 after buying an additional 83 shares during the period. Finally, NewSquare Capital LLC acquired a new position in shares of Visa during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on V. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price on the stock. Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. UBS Group boosted their price objective on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Jefferies Financial Group increased their target price on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research report on Tuesday, May 27th. Finally, Macquarie reduced their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $372.80.
Read Our Latest Stock Analysis on V
Insider Buying and Selling
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 value of $4,363,500.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,448 shares of company stock worth $50,133,659. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Down 5.0%
Shares of V traded down $18.65 during mid-day trading on Friday, reaching $352.75. 14,176,249 shares of the stock traded hands, compared to its average volume of 7,023,528. The stock has a fifty day simple moving average of $348.87 and a 200 day simple moving average of $337.17. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. 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 firm has a market cap of $650.87 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.33 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last released 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 net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the firm posted $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts expect 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Visa 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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