Financial Enhancement Group LLC trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 4.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,128 shares of the credit-card processor's stock after selling 1,851 shares during the period. Visa accounts for about 2.0% of Financial Enhancement Group LLC's holdings, making the stock its 16th biggest holding. Financial Enhancement Group LLC's holdings in Visa were worth $12,636,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Visa by 4.6% in the 4th 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 increased its stake 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 worth $12,729,901,000 after acquiring an additional 1,689,926 shares during the last quarter. Capital International Investors increased its stake in shares of Visa by 3.8% in 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 acquiring an additional 866,596 shares during the last quarter. Capital World Investors increased its stake in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock worth $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Finally, Northern Trust Corp increased its position in 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 purchasing an additional 2,785,707 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Performance
NYSE:V opened at $345.87 on Thursday. The company has a fifty day simple moving average of $352.56 and a two-hundred day simple moving average of $339.31. The company has a market cap of $638.19 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.36 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. Visa Inc. has a 52 week low of $252.70 and a 52 week 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 EPS for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the firm posted $2.51 EPS. Visa's revenue for the quarter was up 9.3% on a year-over-year basis. As a group, equities analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were given 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 was Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Barclays restated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price target for the company. UBS Group raised their target price on Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research note on Wednesday, May 28th. BMO Capital Markets raised their target price on Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on Visa in a research report on Monday, June 2nd. They set a "buy" rating for the company. Five 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Stock Report on V
Insiders Place Their Bets
In related news, insider Paul D. Fabara sold 11,636 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $2,978,899.60. Following the transaction, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $185,576.46. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock worth $36,738,526 in the last 90 days. Corporate insiders own 0.13% of the company's stock.
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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