Visa Inc. (NYSE:V) Shares Bought by Highland Capital Management LLC

Highland Capital Management LLC grew its position in Visa Inc. (NYSE:V - Free Report) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,987 shares of the credit-card processor's stock after buying an additional 9,505 shares during the quarter. Visa accounts for 1.4% of Highland Capital Management LLC's holdings, making the stock its 13th largest holding. Highland Capital Management LLC's holdings in Visa were worth $24,177,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors grew its stake in Visa by 3.8% during the 4th 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 shares of Visa by 1.0% in the fourth quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp grew its position in shares of Visa by 18.0% during 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 acquiring an additional 2,785,707 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.

Insider Buying and Selling

In other news, insider Paul D. Fabara sold 11,636 shares of Visa stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,904,875. The trade was a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the completion of the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,807.49. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.9%

Shares of NYSE:V opened at $349.13 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm has a market cap 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 stock's 50-day moving average price is $353.30 and its two-hundred day moving average price is $340.19. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $375.51.

Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The business had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same period last year, the company earned $2.51 earnings per share. The company's quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. 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%.

Wall Street Analysts Forecast Growth

Several analysts have commented on V shares. Evercore ISI began coverage on Visa in a research note on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Citigroup started coverage on shares of Visa in a report on Monday, June 2nd. They set a "buy" rating for the company. Barclays reiterated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Mizuho raised Visa from a "neutral" rating to an "outperform" rating and raised their price target for the company from $359.00 to $425.00 in a report on Thursday, June 5th. Finally, Truist Financial initiated coverage on Visa in a research report on Monday, June 2nd. They issued a "buy" rating and a $400.00 price objective for the company. 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.

About Visa

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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