USS Investment Management Ltd grew its position in shares of Visa Inc. (NYSE:V - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,103,238 shares of the credit-card processor's stock after buying an additional 16,357 shares during the quarter. Visa accounts for 2.5% of USS Investment Management Ltd's investment portfolio, making the stock its 4th largest holding. USS Investment Management Ltd owned 0.06% of Visa worth $348,971,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after buying an additional 1,689,926 shares during the last quarter. Capital International Investors increased its stake in shares of Visa by 3.8% in the fourth quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after buying an additional 866,596 shares during the last quarter. Capital World Investors boosted its holdings in 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 purchasing an additional 241,057 shares during the period. Finally, Northern Trust Corp boosted its holdings in 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 purchasing an additional 2,785,707 shares during the period. Hedge funds and other institutional investors own 82.15% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Piper Sandler boosted their price objective on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Raymond James reaffirmed an "outperform" rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a research note on Friday, January 31st. StockNews.com raised Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Evercore ISI assumed coverage on Visa in a report on Wednesday, April 9th. They issued an "in-line" rating and a $330.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $362.38.
Check Out Our Latest Stock Analysis on V
Visa Stock Performance
NYSE:V opened at $367.76 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $678.58 billion, a P/E ratio of 37.07, a PEG ratio of 2.33 and a beta of 0.96. The company has a 50 day moving average price of $339.28 and a 200 day moving average price of $330.43. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $369.15.
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. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business had revenue of $9.59 billion for the quarter, compared to analyst estimates of $9.57 billion. During the same period last year, the business earned $2.51 EPS. The company's revenue was up 9.3% on a year-over-year basis. Equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.
Insider Buying and Selling
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now directly owns 537 shares in the company, valued at $194,931. This represents a 94.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,948 shares of company stock valued at $41,548,282. Corporate insiders own 0.13% of the company's stock.
Visa Company 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.
See Also
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