GFI Investment Counsel Ltd. lowered its stake in shares of Visa Inc. (NYSE:V - Free Report) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,924 shares of the credit-card processor's stock after selling 4,562 shares during the quarter. Visa comprises approximately 9.1% of GFI Investment Counsel Ltd.'s investment portfolio, making the stock its 2nd biggest position. GFI Investment Counsel Ltd.'s holdings in Visa were worth $85,196,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the stock. Clayton Financial Group LLC raised its stake in Visa by 446.2% in the fourth quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor's stock valued at $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp grew its stake in Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor's stock worth $26,000 after buying an additional 38 shares in the last quarter. Cresta Advisors Ltd. bought a new position in Visa in the 4th quarter valued at about $26,000. Parvin Asset Management LLC increased its holdings in Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor's stock valued at $26,000 after buying an additional 50 shares during the period. Finally, Dorato Capital Management acquired a new position in shares of Visa in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Buying and Selling at Visa
In related news, CEO Ryan Mcinerney sold 31,455 shares of the business's stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer owned 15,174 shares in the company, valued at $5,161,284.36. The trade was a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the sale, the chief financial officer directly owned 9,872 shares in the company, valued at $3,206,524.32. This trade represents a 51.87% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.12% of the company's stock.
Visa Price Performance
Visa stock opened at $327.67 on Friday. The stock's 50 day moving average is $321.23 and its 200 day moving average is $324.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $587.76 billion, a P/E ratio of 28.54, a P/E/G ratio of 1.75 and a beta of 0.77. Visa Inc. has a one year low of $293.89 and a one year high of $359.66.
Visa (NYSE:V - Get Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. Visa had a net margin of 51.68% and a return on equity of 65.00%. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $10.75 billion. During the same quarter in the prior year, the firm posted $2.76 EPS. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 13.09 EPS for the current year.
Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, April 28th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, May 12th. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. Visa's dividend payout ratio is 23.34%.
Trending Headlines about Visa
Here are the key news stories impacting Visa this week:
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on V shares. Citigroup cut their price target on shares of Visa from $450.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, April 14th. Sanford C. Bernstein reissued an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research note on Tuesday, June 2nd. Raymond James Financial restated an "outperform" rating and set a $389.00 price objective on shares of Visa in a research report on Wednesday, April 29th. UBS Group upped their target price on Visa from $390.00 to $410.00 and gave the stock a "buy" rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price on shares of Visa in a report on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Visa presently has an average rating of "Buy" and an average price target of $387.78.
Check Out Our Latest Research Report on V
About Visa
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
Further Reading
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