Nuveen Asset Management LLC lowered its position in shares of Visa Inc. (NYSE:V - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,100,459 shares of the credit-card processor's stock after selling 451,016 shares during the period. Visa comprises about 0.9% of Nuveen Asset Management LLC's holdings, making the stock its 15th largest holding. Nuveen Asset Management LLC owned approximately 0.54% of Visa worth $3,192,149,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in V. Hirtle Callaghan & Co LLC boosted its stake in shares of Visa by 1.3% in the 4th quarter. Hirtle Callaghan & Co LLC now owns 2,291 shares of the credit-card processor's stock valued at $724,000 after purchasing an additional 29 shares during the last quarter. FWL Investment Management LLC raised its position in shares of Visa by 0.5% in the 4th quarter. FWL Investment Management LLC now owns 6,344 shares of the credit-card processor's stock valued at $2,005,000 after acquiring an additional 29 shares during the period. Elevation Wealth Partners LLC raised its position in shares of Visa by 3.3% in the 4th quarter. Elevation Wealth Partners LLC now owns 939 shares of the credit-card processor's stock valued at $297,000 after acquiring an additional 30 shares during the period. Warther Private Wealth LLC raised its position in shares of Visa by 1.0% in the 4th quarter. Warther Private Wealth LLC now owns 2,935 shares of the credit-card processor's stock valued at $928,000 after acquiring an additional 30 shares during the period. Finally, Valmark Advisers Inc. raised its position in shares of Visa by 0.4% in the 4th quarter. Valmark Advisers Inc. now owns 7,251 shares of the credit-card processor's stock valued at $2,292,000 after acquiring an additional 30 shares during the period. Institutional investors own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Barclays increased their price target on shares of Visa from $361.00 to $396.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Bank of America increased their price target on shares of Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, William Blair restated an "outperform" rating on shares of Visa in a report on Wednesday, April 30th. Six equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $362.38.
Check Out Our Latest Research Report on V
Insider Transactions at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares of the company's stock, valued at $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 14,813 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $355.04, for a total value of $5,259,207.52. Following the completion of the transaction, the insider now directly owns 26,413 shares of the company's stock, valued at approximately $9,377,671.52. This trade represents a 35.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,948 shares of company stock valued at $41,548,282. 0.13% of the stock is currently owned by corporate insiders.
Visa Stock Up 0.8%
Shares of NYSE:V traded up $2.93 during midday trading on Friday, hitting $365.23. The stock had a trading volume of 5,829,909 shares, compared to its average volume of 7,022,771. 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 business's 50-day simple moving average is $337.92 and its 200-day simple moving average is $328.77. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a market cap of $678.51 billion, a P/E ratio of 36.82, a PEG ratio of 2.33 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last released 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 net margin of 54.27% and a return on equity of 54.79%. The firm had revenue of $9.59 billion during the quarter, compared to analysts' expectations of $9.57 billion. During the same period in the previous year, the business posted $2.51 earnings per share. The company's revenue for the quarter was up 9.3% compared to the same quarter last year. On average, sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th will be given a dividend of $0.59 per share. The ex-dividend date is Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.65%. Visa's dividend payout ratio (DPR) is 23.72%.
Visa 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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