Stratos Wealth Partners LTD. lowered its position in Visa Inc. (NYSE:V - Free Report) by 13.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,014 shares of the credit-card processor's stock after selling 7,873 shares during the period. Stratos Wealth Partners LTD.'s holdings in Visa were worth $17,528,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC grew its position 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 worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the last quarter. Capital International Investors increased its stake 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 in the last quarter. Capital World Investors raised its holdings 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 worth $7,356,614,000 after buying an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp raised its holdings 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 worth $5,771,116,000 after buying an additional 2,785,707 shares during the last quarter. Institutional investors own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on V. 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 report on Wednesday, May 28th. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Jefferies Financial Group increased their price target on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Oppenheimer lifted their price objective on Visa from $390.00 to $391.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Finally, Truist Financial started coverage on shares of Visa in a research note on Monday, June 2nd. They issued a "buy" rating and a $400.00 target price for the company. Five investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $372.84.
Check Out Our Latest Research Report on V
Insider Activity
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel directly owned 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the transaction, the chief executive officer directly owned 537 shares in the company, valued at $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,108 shares of company stock valued at $36,771,200. 0.13% of the stock is currently owned by insiders.
Visa Price Performance
Shares of NYSE:V traded down $8.17 during midday trading on Friday, hitting $347.71. The company's stock had a trading volume of 7,577,927 shares, compared to its average volume of 6,821,741. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The business's 50 day simple moving average is $356.93 and its 200 day simple moving average is $342.56. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The company has a market cap of $641.58 billion, a P/E ratio of 34.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the firm earned $2.51 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 annualized dividend and a dividend yield of 0.68%. Visa's dividend payout ratio is presently 23.72%.
Visa Profile
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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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