Gotham Asset Management LLC reduced its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 26.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 66,817 shares of the credit-card processor's stock after selling 23,420 shares during the period. Gotham Asset Management LLC's holdings in Visa were worth $21,117,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Geode Capital Management LLC increased its holdings in shares of Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after acquiring an additional 1,689,926 shares during the period. Capital International Investors increased its holdings in shares of Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock valued at $7,526,660,000 after acquiring an additional 866,596 shares during the period. Capital World Investors increased its holdings in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after acquiring an additional 241,057 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Visa by 18.0% in the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor's stock valued at $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is owned by institutional investors.
Visa Price Performance
NYSE:V traded up $0.28 during trading hours on Tuesday, hitting $356.13. 5,403,773 shares of the stock were exchanged, compared to its average volume of 7,165,349. Visa Inc. has a 52-week low of $252.70 and a 52-week high of $366.54. The firm's fifty day moving average price is $337.05 and its 200 day moving average price is $327.84. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $661.61 billion, a P/E ratio of 35.90, a P/E/G ratio of 2.33 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) 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 return on equity of 54.79% and a net margin of 54.27%. The business's revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.51 earnings per share. As a group, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be given a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.66%. Visa's payout ratio is 23.72%.
Insider Transactions at Visa
In other Visa news, insider Paul D. Fabara sold 14,813 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $355.04, for a total value of $5,259,207.52. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $9,377,671.52. This trade represents a 35.93% 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. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. This trade represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,948 shares of company stock worth $41,548,282 over the last ninety days. Company insiders own 0.13% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. Macquarie dropped their target price on Visa from $400.00 to $380.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Raymond James restated an "outperform" rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research note on Friday, January 31st. Piper Sandler boosted their target price on Visa from $383.00 to $384.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. Finally, Bank of America boosted their target price on Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.
View Our Latest Analysis on Visa
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.
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