Warm Springs Advisors Inc. acquired a new position in shares of Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,132 shares of the credit-card processor's stock, valued at approximately $3,202,000. Visa comprises approximately 3.0% of Warm Springs Advisors Inc.'s investment portfolio, making the stock its 11th biggest holding.
Several other hedge funds have also made changes to their positions in V. Pinney & Scofield Inc. purchased a new stake in Visa in the 4th quarter worth approximately $181,000. Parr Mcknight Wealth Management Group LLC acquired a new position in Visa in the 4th quarter worth $1,732,000. WCG Wealth Advisors LLC lifted its holdings in Visa by 2.8% in the 4th quarter. WCG Wealth Advisors LLC now owns 35,949 shares of the credit-card processor's stock worth $11,361,000 after buying an additional 986 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in shares of Visa in the 4th quarter valued at about $388,000. Finally, Helium Advisors LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $2,655,000. Institutional investors and hedge funds own 82.15% of the company's stock.
Insider Activity
In other Visa news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. The trade was a 59.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,948 shares of company stock worth $41,548,282 over the last quarter. Insiders own 0.13% of the company's stock.
Analyst Ratings Changes
V has been the subject of a number of recent research reports. Raymond James reaffirmed an "outperform" rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. UBS Group reduced their price target on shares of Visa from $400.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, BMO Capital Markets increased their target price on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Six research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $365.71.
Check Out Our Latest Research Report on V
Visa Trading Up 1.6%
Shares of NYSE:V traded up $5.67 during midday trading on Tuesday, hitting $359.21. 6,312,180 shares of the stock traded hands, compared to its average volume of 7,023,621. 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 Inc. has a one year low of $252.70 and a one year high of $369.15. The stock has a market capitalization of $662.80 billion, a PE ratio of 36.21, a P/E/G ratio of 2.33 and a beta of 0.96. The business's 50 day moving average is $341.75 and its two-hundred day moving average is $332.43.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.08. The business had revenue of $9.59 billion during the quarter, compared to analyst estimates of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa's revenue was up 9.3% compared to the same quarter last year. During the same period last year, the business earned $2.51 EPS. As a group, research analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's payout ratio is currently 23.72%.
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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