Pallas Capital Advisors LLC lifted its stake in Visa Inc. (NYSE:V - Free Report) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,395 shares of the credit-card processor's stock after buying an additional 4,116 shares during the quarter. Visa makes up about 0.7% of Pallas Capital Advisors LLC's investment portfolio, making the stock its 21st largest position. Pallas Capital Advisors LLC's holdings in Visa were worth $18,012,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Capital & Planning LLC increased its position in Visa by 21.2% in the fourth quarter. Capital & Planning LLC now owns 949 shares of the credit-card processor's stock worth $300,000 after purchasing an additional 166 shares during the last quarter. Sovereign Investment Advisors LLC bought a new stake in Visa in the fourth quarter worth $424,000. Brighton Jones LLC increased its position in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock worth $6,522,000 after purchasing an additional 6,883 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Visa in the fourth quarter worth $202,074,000. Finally, Revolve Wealth Partners LLC increased its position in Visa by 68.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. This represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the transaction, the insider now owns 26,413 shares in the company, valued at approximately $8,991,249.33. This trade represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,448 shares of company stock valued at $50,133,659. 0.13% of the stock is currently owned by insiders.
Visa Stock Down 5.0%
NYSE:V traded down $18.65 during mid-day trading on Friday, reaching $352.75. The company's stock had a trading volume of 14,176,249 shares, compared to its average volume of 7,023,528. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51. The stock has a fifty day moving average of $348.87 and a 200-day moving average of $337.17. The firm has a market capitalization of $650.87 billion, a PE ratio of 35.56, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The firm's revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.51 earnings per share. Equities research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa's payout ratio is 23.72%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on V shares. BMO Capital Markets boosted their price objective on shares of Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. Truist Financial started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a "buy" rating in a research report on Tuesday, May 27th. 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, Visa has an average rating of "Moderate Buy" and an average price target of $372.80.
Read Our Latest Stock Analysis on Visa
About Visa
(
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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