Rafferty Asset Management LLC raised its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 610,517 shares of the credit-card processor's stock after purchasing an additional 43,546 shares during the quarter. Rafferty Asset Management LLC's holdings in Visa were worth $192,948,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Regent Peak Wealth Advisors LLC grew its position in shares of Visa by 2.5% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 4,927 shares of the credit-card processor's stock worth $1,557,000 after acquiring an additional 121 shares in the last quarter. RMR Wealth Builders grew its position in shares of Visa by 4.5% in the 4th quarter. RMR Wealth Builders now owns 15,885 shares of the credit-card processor's stock worth $5,020,000 after acquiring an additional 677 shares in the last quarter. Christensen King & Associates Investment Services Inc. acquired a new position in shares of Visa in the 4th quarter worth approximately $227,000. Greenfield Savings Bank grew its position in shares of Visa by 1.7% in the 4th quarter. Greenfield Savings Bank now owns 5,344 shares of the credit-card processor's stock worth $1,689,000 after acquiring an additional 89 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its position in shares of Visa by 21.0% in the 4th quarter. Signal Advisors Wealth LLC now owns 17,376 shares of the credit-card processor's stock worth $5,491,000 after acquiring an additional 3,013 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Oppenheimer reiterated an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their price objective on Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. The Goldman Sachs Group boosted their price objective on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Finally, Evercore ISI assumed coverage on Visa in a research report on Wednesday, April 9th. They set an "in-line" rating and a $330.00 price objective for the company. Six investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Visa has a consensus rating of "Moderate Buy" and a consensus target price of $362.38.
Read Our Latest Stock Analysis on Visa
Visa Stock Performance
Visa stock traded up $2.93 during mid-day trading on Friday, hitting $365.23. 5,829,909 shares of the company's stock traded hands, compared to its average volume of 7,022,771. The firm has a 50 day moving average price of $338.59 and a 200 day moving average price of $329.34. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45. The company has a market cap of $678.51 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $366.54.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 EPS for the quarter, topping analysts' consensus estimates of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The company had revenue of $9.59 billion for the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the previous year, the business earned $2.51 EPS. The company's quarterly revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Tuesday, May 13th. Visa's dividend payout ratio is presently 23.72%.
Insider Transactions at Visa
In other news, General Counsel Julie B. Rottenberg sold 2,575 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $345.58, for a total transaction of $889,868.50. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,121,041.50. The trade was a 17.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $8,642,333.60. This trade represents a 59.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,948 shares of company stock valued at $41,548,282. Corporate insiders own 0.13% of the company's stock.
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.
Further Reading
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