Lmcg Investments LLC reduced its stake in Visa Inc. (NYSE:V - Free Report) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,671 shares of the credit-card processor's stock after selling 1,959 shares during the period. Visa makes up 1.6% of Lmcg Investments LLC's portfolio, making the stock its 10th biggest position. Lmcg Investments LLC's holdings in Visa were worth $24,066,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of V. Norges Bank bought a new position in Visa in the 4th quarter valued at approximately $5,171,271,000. GAMMA Investing LLC raised its stake 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 worth $5,173,271,000 after purchasing an additional 14,723,050 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Visa by 4.6% during 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 purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Visa during the fourth quarter valued at $1,955,403,000. Finally, Proficio Capital Partners LLC increased its holdings in Visa by 17,018.7% in the 4th quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after buying an additional 3,926,049 shares in the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Price Performance
NYSE:V traded up $3.67 during trading hours on Friday, hitting $370.44. 5,007,822 shares of the stock traded hands, compared to its average volume of 7,003,537. The company has a market cap of $683.52 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.00. The stock has a 50 day moving average price of $344.98 and a 200 day moving average price of $335.10. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, topping the consensus estimate 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 net margin of 54.27% and a return on equity of 54.79%. Visa's quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.51 EPS. Sell-side analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Tuesday, May 13th. Visa's dividend payout ratio is currently 23.72%.
Insider Activity at Visa
In other news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at approximately $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,162 shares of company stock valued at $58,645,479. 0.13% of the stock is owned by company insiders.
Analysts Set New Price Targets
V has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Wall Street Zen raised shares of Visa from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Mizuho upgraded shares of Visa from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $359.00 to $425.00 in a report on Thursday. Macquarie cut their target price on shares of Visa from $400.00 to $380.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Piper Sandler increased their price target on 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $372.80.
Check Out Our Latest Analysis on Visa
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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