Vicus Capital trimmed its holdings in Visa Inc. (NYSE:V - Free Report) by 69.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,915 shares of the credit-card processor's stock after selling 4,289 shares during the period. Vicus Capital's holdings in Visa were worth $498,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC increased its position in Visa by 17,418.7% during the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor's stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. FMR LLC increased its position in Visa by 4.7% during the third quarter. FMR LLC now owns 50,357,747 shares of the credit-card processor's stock worth $11,582,785,000 after purchasing an additional 2,257,605 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Visa during the third quarter worth about $358,349,000. The Manufacturers Life Insurance Company increased its position in Visa by 34.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,929,979 shares of the credit-card processor's stock worth $903,955,000 after purchasing an additional 999,167 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Visa by 28.0% during the third quarter. Envestnet Asset Management Inc. now owns 3,983,190 shares of the credit-card processor's stock worth $916,174,000 after purchasing an additional 871,439 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
V has been the subject of several research analyst reports. Citigroup increased their target price on shares of Visa from $296.00 to $306.00 and gave the stock a "buy" rating in a research note on Thursday, January 18th. UBS Group increased their target price on shares of Visa from $305.00 to $315.00 and gave the stock a "buy" rating in a research note on Friday, January 26th. Raymond James increased their target price on shares of Visa from $287.00 to $311.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Keefe, Bruyette & Woods increased their target price on shares of Visa from $305.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday, January 26th. Finally, Robert W. Baird raised their price objective on shares of Visa from $314.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $298.43.
Check Out Our Latest Stock Report on V
Visa Stock Performance
Shares of Visa stock traded up $2.53 during trading on Monday, reaching $272.31. The company's stock had a trading volume of 6,462,519 shares, compared to its average volume of 5,869,573. The company has a 50-day moving average price of $279.58 and a two-hundred day moving average price of $263.35. The firm has a market cap of $500.10 billion, a PE ratio of 31.11, a P/E/G ratio of 1.86 and a beta of 0.96. Visa Inc. has a fifty-two week low of $216.14 and a fifty-two week high of $290.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.54.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The credit-card processor reported $2.41 earnings per share for the quarter, beating analysts' consensus estimates of $2.34 by $0.07. The firm had revenue of $8.63 billion for the quarter, compared to analyst estimates of $8.55 billion. Visa had a net margin of 53.92% and a return on equity of 50.02%. Visa's quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. On average, analysts forecast that Visa Inc. will post 9.88 EPS for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, February 8th. Visa's payout ratio is 23.94%.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,150 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $273.39, for a total transaction of $2,228,128.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, CEO Ryan Mcinerney sold 8,150 shares of the company's stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $273.39, for a total value of $2,228,128.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter M. Andreski sold 2,615 shares of the company's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $278.88, for a total value of $729,271.20. Following the completion of the transaction, the chief accounting officer now owns 4,898 shares of the company's stock, valued at approximately $1,365,954.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,965 shares of company stock valued at $5,256,352. 0.19% of the stock is owned by insiders.
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.
Featured Articles
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
