Greenleaf Trust raised its holdings in Visa Inc. (NYSE:V - Free Report) by 139.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 563,215 shares of the credit-card processor's stock after buying an additional 327,528 shares during the period. Visa makes up approximately 1.8% of Greenleaf Trust's portfolio, making the stock its 4th largest position. Greenleaf Trust's holdings in Visa were worth $197,384,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CORDA Investment Management LLC. grew its position in shares of Visa by 1.2% during the first quarter. CORDA Investment Management LLC. now owns 5,763 shares of the credit-card processor's stock worth $2,020,000 after buying an additional 67 shares in the last quarter. New Insight Wealth Advisors lifted its stake in Visa by 19.7% in the first quarter. New Insight Wealth Advisors now owns 1,880 shares of the credit-card processor's stock worth $659,000 after acquiring an additional 310 shares during the last quarter. Silverlake Wealth Management LLC grew its holdings in Visa by 10.1% during the 1st quarter. Silverlake Wealth Management LLC now owns 817 shares of the credit-card processor's stock worth $286,000 after acquiring an additional 75 shares in the last quarter. Trek Financial LLC increased its position in shares of Visa by 2.0% in the 1st quarter. Trek Financial LLC now owns 5,920 shares of the credit-card processor's stock valued at $2,075,000 after purchasing an additional 115 shares during the last quarter. Finally, OMNI 360 Wealth Inc. raised its holdings in shares of Visa by 11.9% in the 1st quarter. OMNI 360 Wealth Inc. now owns 1,036 shares of the credit-card processor's stock valued at $363,000 after purchasing an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Visa Stock Performance
Shares of NYSE:V traded down $8.17 on Friday, reaching $347.71. The company's stock had a trading volume of 7,577,927 shares, compared to its average volume of 6,821,741. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $375.51. The stock has a market capitalization of $641.58 billion, a P/E ratio of 34.95, a PEG ratio of 2.41 and a beta of 0.92. The stock's 50-day moving average is $356.93 and its two-hundred day moving average is $342.56. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.
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, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. Visa had a return on equity of 56.28% and a net margin of 52.86%. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.51 EPS. As a group, sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. 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 payout ratio is currently 23.72%.
Insider Transactions at Visa
In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company'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 owned 26,413 shares in the company, valued at approximately $9,904,875. This represents a 30.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of Visa stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $353.82, for a total value of $3,053,466.60. Following the completion of the sale, the chief executive officer owned 537 shares in the company, valued at approximately $190,001.34. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,108 shares of company stock worth $36,771,200 over the last 90 days. 0.13% of the stock is currently owned by insiders.
Analysts Set New Price Targets
V has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on shares of Visa in a research report on Monday, June 2nd. They set a "neutral" rating for the company. Barclays reaffirmed an "overweight" rating on shares of Visa in a report on Friday, June 13th. BMO Capital Markets increased their price objective on Visa from $370.00 to $380.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Wall Street Zen raised Visa from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Finally, William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Five investment 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $372.84.
View Our Latest Report on V
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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