Axxcess Wealth Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,244 shares of the credit-card processor's stock after selling 1,003 shares during the quarter. Axxcess Wealth Management LLC's holdings in Visa were worth $19,259,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings 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 acquiring an additional 1,677,088 shares in the last quarter. Northern Trust Corp grew its position in shares of Visa by 4.0% in the 1st quarter. Northern Trust Corp now owns 18,987,013 shares of the credit-card processor's stock worth $6,654,189,000 after acquiring an additional 726,299 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Visa by 7.2% in the 1st 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 worth $5,003,569,000 after acquiring an additional 955,392 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Visa by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,675,220 shares of the credit-card processor's stock worth $4,442,157,000 after acquiring an additional 434,217 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Visa by 17.7% in the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor's stock worth $3,847,953,000 after acquiring an additional 1,651,954 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Buying and Selling
In other Visa news, General Counsel Julie B. Rottenberg sold 2,027 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $344.02, for a total transaction of $697,328.54. Following the completion of the transaction, the general counsel directly owned 11,925 shares of the company's stock, valued at approximately $4,102,438.50. This trade represents a 14.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 10,485 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $342.30, for a total value of $3,589,015.50. Following the completion of the sale, the chief executive officer directly owned 537 shares in the company, valued at $183,815.10. This represents a 95.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on V shares. Robert W. Baird set a $410.00 price objective on shares of Visa and gave the stock an "outperform" rating in a report on Monday, October 6th. Truist Financial decreased their price target on shares of Visa from $400.00 to $397.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Erste Group Bank downgraded Visa from a "buy" rating to a "hold" rating in a research note on Monday, September 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Visa in a research note on Wednesday, October 8th. Finally, UBS Group restated a "buy" rating and set a $415.00 price objective (up previously from $405.00) on shares of Visa in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Visa currently has a consensus rating of "Moderate Buy" and an average target price of $389.00.
Check Out Our Latest Research Report on V
Visa Stock Performance
Shares of NYSE V opened at $341.90 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $344.30 and a 200-day simple moving average of $346.83. The company has a market cap of $626.63 billion, a PE ratio of 33.39, a P/E/G ratio of 1.99 and a beta of 0.90. Visa Inc. has a 12-month low of $280.78 and a 12-month high of $375.51.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit-card processor reported $2.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $0.13. Visa had a return on equity of 58.93% and a net margin of 52.16%.The business had revenue of $10.17 billion during the quarter, compared to the consensus estimate of $9.82 billion. During the same period in the previous year, the firm posted $2.42 earnings per share. The business's revenue was up 14.3% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 12th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, August 12th. Visa's dividend payout ratio is currently 23.05%.
Visa Company Profile
(
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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