Invesco Ltd. lifted its stake in Visa Inc. (NYSE:V - Free Report) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,724,456 shares of the credit-card processor's stock after purchasing an additional 533,238 shares during the quarter. Visa comprises 0.7% of Invesco Ltd.'s portfolio, making the stock its 10th biggest holding. Invesco Ltd. owned about 0.58% of Visa worth $3,758,493,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in V. Vanguard Group Inc. raised its position in Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor's stock worth $56,452,949,000 after buying an additional 1,677,088 shares during the last quarter. Capital International Investors boosted its stake in Visa by 3.8% during 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 purchasing an additional 866,596 shares during the last quarter. Capital World Investors raised its holdings in Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Visa by 18.0% during the 4th 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. Finally, GAMMA Investing LLC increased its holdings 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 purchasing an additional 14,723,050 shares during the last quarter. Institutional investors own 82.15% of the company's stock.
Insiders Place Their Bets
In related news, insider Paul D. Fabara sold 46,214 shares of Visa stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $370.00, for a total transaction of $17,099,180.00. Following the sale, the insider directly owned 26,413 shares in the company, valued at $9,772,810. The trade was a 63.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,630 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $353.82, for a total transaction of $3,053,466.60. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at approximately $190,001.34. This represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,100 shares of company stock valued at $27,643,224. 0.13% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on V. Piper Sandler upped their target price on Visa from $383.00 to $384.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Jefferies Financial Group upped their price target on Visa from $400.00 to $410.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. UBS Group restated a "buy" rating and issued a $415.00 price objective (up previously from $405.00) on shares of Visa in a report on Wednesday, July 30th. William Blair reaffirmed an "outperform" rating on shares of Visa in a research report on Wednesday, April 30th. Finally, Oppenheimer boosted their target price on shares of Visa from $390.00 to $391.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. 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. Based on data from MarketBeat.com, Visa currently has a consensus rating of "Moderate Buy" and an average price target of $380.84.
Read Our Latest Stock Report on Visa
Visa Stock Up 1.4%
V stock opened at $336.86 on Friday. The firm has a fifty day moving average price of $352.79 and a two-hundred day moving average price of $346.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a 1-year low of $258.74 and a 1-year high of $375.51. The firm has a market cap of $621.56 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 2.21 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a net margin of 52.16% and a return on equity of 58.93%. The firm had revenue of $10.17 billion for the quarter, compared to analyst estimates of $9.82 billion. During the same quarter in the prior year, the business earned $2.42 earnings per share. Visa's quarterly revenue was up 14.3% on a year-over-year basis. Research analysts predict that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 12th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Tuesday, August 12th. Visa's dividend payout ratio is presently 23.05%.
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.
Further Reading
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