Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 6.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 483,680 shares of the credit-card processor's stock after purchasing an additional 28,492 shares during the quarter. Visa makes up 1.7% of Sumitomo Mitsui DS Asset Management Company Ltd's holdings, making the stock its 8th biggest position. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Visa were worth $169,510,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC bought a new stake in shares of Visa during the 4th quarter valued at $35,000. Sellwood Investment Partners LLC acquired a new position in Visa in the fourth quarter valued at about $41,000. Mountain Hill Investment Partners Corp. bought a new stake in Visa during the fourth quarter worth about $47,000. Measured Risk Portfolios Inc. bought a new stake in Visa during the fourth quarter worth about $47,000. Finally, Global X Japan Co. Ltd. acquired a new stake in Visa during the first quarter worth about $56,000. 82.15% of the stock is owned by institutional investors.
Insider Transactions at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated 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 transaction, the insider owned 26,413 shares of the company's stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,478 shares of company stock worth $33,717,733. Company insiders own 0.13% of the company's stock.
Visa Stock Up 1.3%
Shares of V traded up $4.48 during midday trading on Friday, reaching $358.70. 3,702,810 shares of the stock were exchanged, compared to its average volume of 6,855,011. The company has a market capitalization of $661.86 billion, a P/E ratio of 36.05, a PEG ratio of 2.40 and a beta of 0.92. 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 52 week low of $252.70 and a 52 week high of $375.51. The company's 50 day moving average is $355.33 and its two-hundred day moving average is $340.96.
Visa (NYSE:V - Get Free Report) last announced its 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. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm's revenue was up 9.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.51 earnings per share. On average, sell-side 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. Shareholders of record on Tuesday, May 13th were issued a $0.59 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.66%. Visa's dividend payout ratio is currently 23.72%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the company. BMO Capital Markets upped their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $359.00 to $425.00 in a research note on Thursday, June 5th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Macquarie dropped their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Five equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $372.84.
Check Out Our Latest Research Report on V
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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