Norris Perne & French LLP MI decreased its stake in Visa Inc. (NYSE:V - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,639 shares of the credit-card processor's stock after selling 2,168 shares during the period. Visa makes up 3.5% of Norris Perne & French LLP MI's portfolio, making the stock its 4th largest holding. Norris Perne & French LLP MI's holdings in Visa were worth $46,485,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Silver Oak Securities Incorporated grew its position in Visa by 3.7% during the first quarter. Silver Oak Securities Incorporated now owns 6,525 shares of the credit-card processor's stock worth $2,237,000 after buying an additional 233 shares in the last quarter. ORG Wealth Partners LLC boosted its holdings in Visa by 26.7% during the first quarter. ORG Wealth Partners LLC now owns 3,351 shares of the credit-card processor's stock valued at $1,162,000 after purchasing an additional 707 shares in the last quarter. TTP Investments Inc. grew its stake in shares of Visa by 4.4% in the 1st quarter. TTP Investments Inc. now owns 1,317 shares of the credit-card processor's stock valued at $462,000 after purchasing an additional 56 shares during the period. Sterling Investment Counsel LLC raised its holdings in shares of Visa by 191.1% in the 1st quarter. Sterling Investment Counsel LLC now owns 12,414 shares of the credit-card processor's stock worth $4,351,000 after buying an additional 8,150 shares in the last quarter. Finally, Hamilton Capital Partners LLC lifted its position in shares of Visa by 18.0% during the 1st quarter. Hamilton Capital Partners LLC now owns 22,537 shares of the credit-card processor's stock worth $7,898,000 after buying an additional 3,434 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on 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 owns 537 shares of the company's stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of Visa stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total value of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 101,098 shares of company stock valued at $36,738,526. 0.13% of the stock is currently owned by insiders.
Visa Stock Down 4.9%
NYSE:V opened at $340.16 on Friday. The company has a market cap of $627.64 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.29 and a beta of 0.94. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The stock's fifty day moving average price is $351.69 and its two-hundred day moving average price is $338.37. 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 56.28% and a net margin of 52.86%. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 earnings per share. The firm's quarterly revenue was up 9.3% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. The ex-dividend date was Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.69%. Visa's dividend payout ratio is currently 23.72%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on V shares. Susquehanna reiterated a "positive" rating on shares of Visa in a research report on Friday, March 21st. William Blair reissued an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. UBS Group boosted their target price on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Wednesday, May 28th. Barclays reiterated an "overweight" rating on shares of Visa in a research report on Friday, June 13th. Finally, Piper Sandler lifted their price target on shares of Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. 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's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.
Get Our Latest Analysis on Visa
Visa Company 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.
Further Reading
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