Cooper Investors PTY Ltd. reduced its position in shares of Visa Inc. (NYSE:V - Free Report) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 97,284 shares of the credit-card processor's stock after selling 26,094 shares during the quarter. Visa accounts for approximately 5.5% of Cooper Investors PTY Ltd.'s holdings, making the stock its 2nd biggest position. Cooper Investors PTY Ltd.'s holdings in Visa were worth $34,094,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Sovereign Investment Advisors LLC bought a new position in shares of Visa during the 4th quarter valued at approximately $424,000. Brighton Jones LLC lifted its holdings in Visa by 50.1% during the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Visa in the fourth quarter worth approximately $202,074,000. Revolve Wealth Partners LLC increased its stake in shares of Visa by 68.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock worth $3,733,000 after purchasing an additional 4,817 shares in the last quarter. Finally, Leverage Partners Absolute Return Fund SPC purchased a new stake in shares of Visa in the fourth quarter worth $204,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Piper Sandler boosted their price target on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of Visa in a report on Monday, June 2nd. They set a "neutral" rating for the company. Jefferies Financial Group boosted their target price on shares of Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the stock a "buy" rating in a research report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $372.80.
View Our Latest Stock Report on V
Insider Activity at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, April 1st. The stock was 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 in the company, valued at approximately $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. This represents a 17.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,098 shares of company stock worth $36,738,526. Insiders own 0.13% of the company's stock.
Visa Price Performance
NYSE:V opened at $351.65 on Wednesday. The firm has a market capitalization of $648.84 billion, a price-to-earnings ratio of 35.34, a PEG ratio of 2.31 and a beta of 0.94. 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 business has a 50 day simple moving average of $352.27 and a 200-day simple moving average of $339.26. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) 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 the consensus estimate of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. Visa's revenue was up 9.3% on a year-over-year basis. During the same period last year, the company earned $2.51 earnings per share. Equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The company also recently declared 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 0.67%. Visa's dividend payout ratio is presently 23.72%.
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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