Congress Park Capital LLC lessened its stake in Visa Inc. (NYSE:V - Free Report) by 13.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,996 shares of the credit-card processor's stock after selling 950 shares during the quarter. Congress Park Capital LLC's holdings in Visa were worth $2,101,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in V. Hirtle Callaghan & Co LLC raised its stake in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares in the last quarter. FWL Investment Management LLC raised its stake in shares of Visa by 0.5% in the 4th 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 in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Visa by 0.4% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,283 shares of the credit-card processor's stock valued at $2,302,000 after purchasing an additional 30 shares in the last quarter. Capstone Financial Advisors Inc. raised its stake in shares of Visa by 3.6% in the 4th 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 in the last quarter. Finally, Headinvest LLC raised its stake in shares of Visa by 0.8% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Visa Price Performance
NYSE V opened at $338.04 on Friday. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $623.73 billion, a PE ratio of 33.97, a P/E/G ratio of 2.29 and a beta of 0.94. The company's 50 day simple moving average is $351.78 and its 200 day simple moving average is $338.54.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $9.57 billion. During the same quarter last year, the business earned $2.51 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.70%. Visa's dividend payout ratio is presently 23.72%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Barclays reaffirmed an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Truist Financial assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a "buy" rating and a $400.00 price objective for the company. 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. Mizuho raised shares of Visa from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Evercore ISI assumed coverage on shares of Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Visa presently has an average rating of "Moderate Buy" and a consensus price target of $372.80.
Get Our Latest Stock Analysis on V
Insider Activity at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $194,807.49. The trade was 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 14,813 shares of Visa stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 101,098 shares of company stock worth $36,738,526 over the last quarter. 0.13% of the stock is currently owned by company insiders.
Visa Company Profile
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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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