CCLA Investment Management reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 487,816 shares of the credit-card processor's stock after selling 57,178 shares during the quarter. Visa accounts for approximately 3.0% of CCLA Investment Management's holdings, making the stock its 5th biggest position. CCLA Investment Management's holdings in Visa were worth $170,906,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of V. FWL Investment Management LLC raised its holdings in shares of Visa by 0.5% in the fourth quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after purchasing an additional 29 shares during the last quarter. Yeomans Consulting Group Inc. raised its holdings in shares of Visa by 2.9% in the first quarter. Yeomans Consulting Group Inc. now owns 1,027 shares of the credit-card processor's stock valued at $360,000 after purchasing an additional 29 shares during the last quarter. Semus Wealth Partners LLC raised its holdings in shares of Visa by 0.8% in the first quarter. Semus Wealth Partners LLC now owns 3,449 shares of the credit-card processor's stock valued at $1,209,000 after purchasing an additional 29 shares during the last quarter. Capstone Financial Advisors Inc. raised its holdings in shares of Visa by 3.6% in the fourth quarter. Capstone Financial Advisors Inc. now owns 872 shares of the credit-card processor's stock valued at $276,000 after purchasing an additional 30 shares during the last quarter. Finally, Headinvest LLC raised its holdings in shares of Visa by 0.8% in the fourth quarter. Headinvest LLC now owns 4,003 shares of the credit-card processor's stock valued at $1,265,000 after purchasing an additional 30 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, insider Paul D. Fabara sold 46,214 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the completion of the sale, the insider owned 26,413 shares of the company's stock, valued at $9,772,810. This represents a 63.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $190,001.34. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,913 shares of company stock worth $32,902,432 over the last 90 days. 0.13% of the stock is currently owned by corporate insiders.
Visa Trading Down 1.9%
V stock opened at $338.81 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.08 and a current ratio of 1.12. The company's 50-day simple moving average is $355.06 and its 200 day simple moving average is $346.55. Visa Inc. has a 52 week low of $254.51 and a 52 week high of $375.51. The company has a market capitalization of $625.16 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 2.26 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last released its quarterly 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 business had revenue of $10.17 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the prior year, the company posted $2.42 earnings per share. Visa's revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a $0.59 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Visa's dividend payout ratio is 23.05%.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on V. William Blair reiterated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Visa from $386.00 to $402.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group reaffirmed a "buy" rating and set a $415.00 price target (up from $405.00) on shares of Visa in a research report on Wednesday. Truist Financial dropped their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Finally, Macquarie upped their price target on shares of Visa from $380.00 to $425.00 and gave the stock an "outperform" rating in a research report on Thursday. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $380.84.
Check Out Our Latest Report on V
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.
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