Trust Asset Management LLC boosted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,899 shares of the credit-card processor's stock after acquiring an additional 1,523 shares during the quarter. Visa comprises 0.6% of Trust Asset Management LLC's investment portfolio, making the stock its 19th biggest holding. Trust Asset Management LLC's holdings in Visa were worth $6,974,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in V. Public Sector Pension Investment Board lifted its holdings in shares of Visa by 1.4% in the 1st quarter. Public Sector Pension Investment Board now owns 736,751 shares of the credit-card processor's stock valued at $258,202,000 after buying an additional 9,998 shares during the period. Mainsail Asset Management LLC lifted its holdings in shares of Visa by 3.8% in the 1st quarter. Mainsail Asset Management LLC now owns 1,842 shares of the credit-card processor's stock valued at $646,000 after buying an additional 67 shares during the period. WP Advisors LLC lifted its holdings in shares of Visa by 4.3% in the 1st quarter. WP Advisors LLC now owns 24,164 shares of the credit-card processor's stock valued at $8,469,000 after buying an additional 1,000 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its holdings in shares of Visa by 8.0% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,521 shares of the credit-card processor's stock valued at $527,000 after buying an additional 113 shares during the period. Finally, Motley Fool Asset Management LLC lifted its holdings in shares of Visa by 2.8% in the 1st quarter. Motley Fool Asset Management LLC now owns 101,180 shares of the credit-card processor's stock valued at $35,460,000 after buying an additional 2,738 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $370.00, for a total value of $17,099,180.00. Following the transaction, the insider owned 26,413 shares in the company, valued at approximately $9,772,810. This trade represents a 63.63% 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 the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total value of $3,053,466.60. Following the transaction, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 75,100 shares of company stock worth $27,643,224 in the last quarter. 0.13% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several analysts have recently commented on V shares. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Macquarie raised their price target on Visa from $380.00 to $425.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. UBS Group reissued a "buy" rating and issued a $415.00 price target (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. BMO Capital Markets raised their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Finally, Truist Financial dropped their price objective on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Five 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $380.84.
Check Out Our Latest Stock Analysis on Visa
Visa Stock Performance
Visa stock opened at $336.86 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a fifty day moving average of $352.79 and a two-hundred day moving average of $347.26. The company has a market capitalization of $617.39 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.25 and a beta of 0.94. Visa Inc. has a fifty-two week low of $258.74 and a fifty-two week high of $375.51.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%. The business had revenue of $10.17 billion for the quarter, compared to analysts' expectations of $9.82 billion. During the same quarter last year, the firm earned $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Visa's dividend payout ratio (DPR) is presently 23.05%.
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.
See Also
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
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