TCV Trust & Wealth Management Inc. trimmed its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 71,776 shares of the credit-card processor's stock after selling 1,787 shares during the quarter. Visa accounts for 2.3% of TCV Trust & Wealth Management Inc.'s holdings, making the stock its 9th biggest position. TCV Trust & Wealth Management Inc.'s holdings in Visa were worth $25,155,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. 3Chopt Investment Partners LLC acquired a new position in Visa during the 1st quarter worth approximately $1,611,000. Hartmann Taylor Wealth Management LLC acquired a new position in Visa during the 1st quarter worth approximately $241,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Visa by 3.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 444,037 shares of the credit-card processor's stock worth $152,650,000 after acquiring an additional 13,007 shares during the last quarter. Lafayette Investments Inc. boosted its position in Visa by 4.2% during the 1st quarter. Lafayette Investments Inc. now owns 7,979 shares of the credit-card processor's stock worth $2,796,000 after acquiring an additional 318 shares during the last quarter. Finally, Money Concepts Capital Corp boosted its position in Visa by 4.4% during the 1st quarter. Money Concepts Capital Corp now owns 3,110 shares of the credit-card processor's stock worth $1,090,000 after acquiring an additional 130 shares during the last quarter. 82.15% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. UBS Group upped their price target on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. The Goldman Sachs Group assumed coverage on Visa in a report on Monday, June 2nd. They issued a "neutral" rating for the company. Piper Sandler increased their price objective on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.
Get Our Latest Analysis on Visa
Visa Stock Up 0.9%
V stock opened at $349.13 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $644.20 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 2.34 and a beta of 0.94. The business's fifty day moving average price is $353.30 and its two-hundred day moving average price is $340.01. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. Visa's revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is currently 23.72%.
Insider Buying and Selling
In related news, insider Paul D. Fabara sold 11,636 shares of the firm's stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total value of $4,363,500.00. Following the sale, the insider now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly 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 quarter, insiders have sold 101,098 shares of company stock worth $36,738,526. Company 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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