Chicago Partners Investment Group LLC increased its position in shares of Visa Inc. (NYSE:V - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,932 shares of the credit-card processor's stock after acquiring an additional 1,236 shares during the period. Chicago Partners Investment Group LLC's holdings in Visa were worth $13,477,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Visa by 14.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 455,183 shares of the credit-card processor's stock worth $159,523,000 after acquiring an additional 57,800 shares in the last quarter. Precedent Wealth Partners LLC lifted its stake in Visa by 7.5% during the 2nd quarter. Precedent Wealth Partners LLC now owns 1,588 shares of the credit-card processor's stock worth $564,000 after acquiring an additional 111 shares in the last quarter. Consilium Wealth Advisory LLC acquired a new position in Visa during the 2nd quarter worth about $862,000. Iron Gate Global Advisors LLC lifted its stake in Visa by 5.9% during the 1st quarter. Iron Gate Global Advisors LLC now owns 62,890 shares of the credit-card processor's stock worth $22,040,000 after acquiring an additional 3,484 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Visa by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 14,277,146 shares of the credit-card processor's stock valued at $5,003,569,000 after purchasing an additional 955,392 shares during the period. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of Visa stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total transaction of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares of the company's stock, valued at $183,815.10. The trade was a 95.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,027 shares of Visa stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $344.02, for a total value of $697,328.54. Following the sale, the general counsel directly owned 11,925 shares of the company's stock, valued at $4,102,438.50. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
Visa Stock Up 0.8%
Shares of NYSE V opened at $347.17 on Wednesday. The company has a market capitalization of $636.29 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.04 and a beta of 0.90. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.12 and a quick ratio of 1.12. The business has a 50-day moving average of $344.68 and a two-hundred day moving average of $347.11. Visa Inc. has a 1 year low of $280.78 and a 1 year high of $375.51.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.85 by $0.13. The company had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. Visa had a return on equity of 58.93% and a net margin of 52.16%.Visa's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.42 EPS. On average, 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 Tuesday, September 2nd. Shareholders of record on Tuesday, August 12th were issued 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 of this dividend was Tuesday, August 12th. Visa's payout ratio is 23.05%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on V shares. Barclays reiterated an "overweight" rating and issued a $408.00 target price (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating on shares of Visa in a report on Wednesday, July 30th. UBS Group reiterated a "buy" rating and issued a $415.00 target price (up from $405.00) on shares of Visa in a report on Wednesday, July 30th. Truist Financial decreased their target price on Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Finally, Wells Fargo & Company set a $412.00 target price on Visa and gave the company an "overweight" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Visa has a consensus rating of "Moderate Buy" and an average price target of $389.74.
Read Our Latest Stock Report 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.
See Also
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
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