Jupiter Asset Management Ltd. increased its holdings in Visa Inc. (NYSE:V - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 265,244 shares of the credit-card processor's stock after acquiring an additional 1,884 shares during the quarter. Visa makes up 0.9% of Jupiter Asset Management Ltd.'s portfolio, making the stock its 14th biggest position. Jupiter Asset Management Ltd.'s holdings in Visa were worth $92,957,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of V. Lakeridge Wealth Management LLC grew its stake in Visa by 5.7% in the first quarter. Lakeridge Wealth Management LLC now owns 1,507 shares of the credit-card processor's stock worth $528,000 after purchasing an additional 81 shares in the last quarter. Blue Rock Wealth Management LLC acquired a new stake in Visa during the fourth quarter worth about $306,000. Aptus Capital Advisors LLC raised its stake in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after acquiring an additional 30,185 shares during the period. Eagle Strategies LLC raised its stake in Visa by 2.5% during the fourth quarter. Eagle Strategies LLC now owns 2,568 shares of the credit-card processor's stock worth $811,000 after acquiring an additional 63 shares during the period. Finally, Rafferty Asset Management LLC raised its stake in Visa by 7.7% during the fourth quarter. Rafferty Asset Management LLC now owns 610,517 shares of the credit-card processor's stock worth $192,948,000 after acquiring an additional 43,546 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.
Wall Street Analyst Weigh In
V has been the topic of several research reports. Barclays reiterated an "overweight" rating and set a $408.00 price objective (up previously from $396.00) on shares of Visa in a research note on Thursday. The Goldman Sachs Group initiated coverage on shares of Visa in a research note on Monday, June 2nd. They set a "neutral" rating on the stock. Macquarie increased their price objective on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research note on Thursday. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $359.00 to $425.00 in a research note on Thursday, June 5th. Finally, BMO Capital Markets upped their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $380.84.
Check Out Our Latest Analysis on Visa
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the sale, the insider directly owned 26,413 shares of the company's stock, valued at $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,913 shares of company stock valued at $32,902,432 over the last three months. 0.13% of the stock is owned by corporate insiders.
Visa Stock Down 1.9%
Visa stock opened at $338.81 on Friday. The stock has a market cap of $625.16 billion, a price-to-earnings ratio of 33.09, a PEG ratio of 2.30 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 0.52. The company's 50-day moving average price is $355.06 and its two-hundred day moving average price is $346.34. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the company earned $2.42 EPS. Visa's quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.
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.
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