Meridiem Capital Partners LP bought a new stake in Visa Inc. (NYSE:V - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 54,595 shares of the credit-card processor's stock, valued at approximately $17,254,000. Visa comprises 1.5% of Meridiem Capital Partners LP's portfolio, making the stock its 25th largest position.
Other institutional investors have also added to or reduced their stakes in the company. Riverstone Advisors LLC bought a new stake in Visa during the fourth quarter valued at $217,000. Blue Rock Wealth Management LLC acquired a new stake in Visa during the fourth quarter worth approximately $306,000. Aptus Capital Advisors LLC boosted its holdings in shares of Visa by 19.8% during the 4th quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor's stock worth $57,727,000 after buying an additional 30,185 shares in the last quarter. Journey Strategic Wealth LLC grew its position in shares of Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after buying an additional 1,361 shares during the period. Finally, King Wealth Management Group increased its stake in shares of Visa by 9.0% in the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock valued at $23,663,000 after acquiring an additional 6,172 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the transaction, the chief executive officer now owns 537 shares in the company, valued at $194,931. The trade was a 94.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Julie B. Rottenberg sold 2,575 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,121,041.50. This represents a 17.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,948 shares of company stock worth $41,548,282. 0.13% of the stock is currently owned by insiders.
Visa Price Performance
Shares of Visa stock traded up $5.41 on Thursday, reaching $361.87. The stock had a trading volume of 5,822,144 shares, compared to its average volume of 7,040,784. The business's 50 day moving average is $337.51 and its two-hundred day moving average is $328.23. The company has a market cap of $672.27 billion, a P/E ratio of 36.48, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, beating the consensus estimate of $2.68 by $0.08. The firm had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. The business's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $2.51 EPS. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be issued a $0.59 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 annualized dividend and a dividend yield of 0.65%. Visa's payout ratio is currently 23.72%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on V shares. BMO Capital Markets raised their price target on shares of Visa from $370.00 to $380.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price target on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. The Goldman Sachs Group increased their price target on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Evercore ISI began coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 target price on the stock. Finally, Citigroup restated a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $362.38.
View Our Latest Report on V
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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