Signet Investment Advisory Group Inc. trimmed its stake in Visa Inc. (NYSE:V - Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,610 shares of the credit-card processor's stock after selling 1,295 shares during the period. Visa accounts for approximately 2.9% of Signet Investment Advisory Group Inc.'s holdings, making the stock its 8th largest position. Signet Investment Advisory Group Inc.'s holdings in Visa were worth $5,821,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of V. Lakeridge Wealth Management LLC increased its stake in Visa by 5.7% in the 1st quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after buying an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC purchased a new position in shares of Visa during the fourth quarter valued at about $306,000. Aptus Capital Advisors LLC grew its position in shares of Visa by 19.8% during the fourth 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 in the last quarter. Eagle Strategies LLC grew its position in shares of Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock valued at $811,000 after purchasing an additional 63 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its position in shares of Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock valued at $192,948,000 after purchasing an additional 43,546 shares in the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on V. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and increased their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Visa in a research note on Thursday. They issued a "buy" rating and a $410.00 price objective for the company. BMO Capital Markets raised their price objective on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Five investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $375.52.
Check Out Our Latest Report on Visa
Visa Price Performance
NYSE V opened at $348.90 on Friday. The firm's fifty day simple moving average is $356.82 and its two-hundred day simple moving average is $343.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51. The firm has a market capitalization of $643.78 billion, a P/E ratio of 35.07, a P/E/G ratio of 2.36 and a beta of 0.92.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 earnings per share. Analysts forecast 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. Investors of record on Tuesday, May 13th were given 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 yield of 0.68%. Visa's dividend payout ratio is presently 23.72%.
Insider Activity at Visa
In other Visa news, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the transaction, the general counsel owned 11,925 shares in the company, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,772,810. This trade represents a 63.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last three months. 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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