Boussard & Gavaudan Investment Management LLP trimmed its stake in shares of Visa Inc. (NYSE:V - Free Report) by 95.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,298 shares of the credit-card processor's stock after selling 95,702 shares during the quarter. Boussard & Gavaudan Investment Management LLP's holdings in Visa were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in V. Vanguard Group Inc. boosted its holdings in Visa by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after buying an additional 7,079,706 shares in the last quarter. State Street Corp grew its holdings in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock valued at $21,064,179,000 after acquiring an additional 3,327,977 shares in the last quarter. Geode Capital Management LLC increased its position in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Norges Bank bought a new position in Visa during the fourth quarter valued at approximately $5,171,271,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Visa by 6.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 12,241,003 shares of the credit-card processor's stock valued at $3,868,646,000 after purchasing an additional 718,558 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Stock Performance
Shares of NYSE V traded up $1.88 during midday trading on Monday, reaching $344.73. The company's stock had a trading volume of 2,931,134 shares, compared to its average volume of 7,124,819. The stock has a market capitalization of $640.44 billion, a P/E ratio of 34.66, a PEG ratio of 2.33 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day moving average price of $343.60 and a 200-day moving average price of $315.49. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $366.54.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.68%. Visa's payout ratio is currently 23.79%.
Wall Street Analyst Weigh In
Several research firms recently issued reports on V. Barclays upped their price objective on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Morgan Stanley raised their target price on Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their price objective on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research note on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Friday, January 31st. Finally, Citigroup reiterated a "neutral" rating on shares of Visa in a research report on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa presently has an average rating of "Moderate Buy" and an average price target of $355.84.
Check Out Our Latest Research Report on V
Insider Buying and Selling
In other news, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total transaction of $12,875,320.00. Following the transaction, the insider now owns 26,413 shares of the company's stock, valued at $8,642,333.60. This represents a 59.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $363.00, for a total value of $3,129,060.00. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $194,931. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 143,205 shares of company stock worth $48,560,961. 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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