Bennett Selby Investments LP lifted its stake in Visa Inc. (NYSE:V - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,727 shares of the credit-card processor's stock after purchasing an additional 953 shares during the period. Visa accounts for approximately 7.7% of Bennett Selby Investments LP's holdings, making the stock its 4th largest position. Bennett Selby Investments LP's holdings in Visa were worth $19,530,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of V. Norges Bank bought a new position in Visa in the 4th quarter worth $5,171,271,000. GAMMA Investing LLC lifted its position in shares of Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor's stock valued at $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Visa in the fourth quarter worth about $1,955,403,000. Finally, Proficio Capital Partners LLC grew its position in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
Insider Activity at Visa
In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,798 shares of company stock valued at $63,008,979. Corporate insiders own 0.13% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts recently commented on V shares. Jefferies Financial Group boosted their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a report on Tuesday, May 27th. Evercore ISI began 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 on the stock. BMO Capital Markets boosted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday, March 21st. Finally, UBS Group lifted their price target on shares of Visa from $395.00 to $405.00 and gave the company a "buy" rating in a report on Wednesday, May 28th. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $372.80.
Read Our Latest Stock Report on V
Visa Price Performance
Shares of NYSE:V traded down $2.20 during trading on Thursday, reaching $371.11. The stock had a trading volume of 4,868,166 shares, compared to its average volume of 6,998,384. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $375.51. The stock has a market cap of $684.76 billion, a PE ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94. The business has a fifty day moving average price of $347.68 and a 200-day moving average price of $336.77.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a net margin of 54.27% and a return on equity of 54.79%. The company had revenue of $9.59 billion for the quarter, compared to analysts' expectations of $9.57 billion. During the same quarter in the previous year, the company posted $2.51 EPS. The firm's quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were given 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 yield of 0.64%. Visa's payout ratio is presently 23.72%.
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.
Further Reading
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