Clune & Associates LTD. bought a new stake in Visa Inc. (NYSE:V - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,604 shares of the credit-card processor's stock, valued at approximately $507,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position 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 acquiring an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Visa during the 4th quarter worth $1,955,403,000. Proficio Capital Partners LLC boosted its holdings in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor's stock worth $1,248,079,000 after purchasing an additional 3,926,049 shares during the last quarter. State Street Corp grew its position in shares of Visa by 4.5% in the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock valued at $21,064,179,000 after purchasing an additional 3,327,977 shares during the period. Finally, FMR LLC lifted its position in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock worth $15,702,901,000 after buying an additional 3,265,518 shares during the period. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Visa
In related news, CAO Peter M. Andreski sold 2,332 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total transaction of $815,313.84. Following the completion of the sale, the chief accounting officer now owns 4,488 shares in the company, valued at $1,569,094.56. This represents a 34.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,205 shares of company stock valued at $48,560,961. Corporate insiders own 0.13% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently commented on V. Piper Sandler reaffirmed an "overweight" rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Oppenheimer restated an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Raymond James reiterated an "outperform" rating and set a $393.00 target price (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. The Goldman Sachs Group lifted 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. Finally, Citigroup reissued a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $353.96.
Read Our Latest Research Report on V
Visa Stock Up 0.3 %
Shares of Visa stock traded up $1.08 during midday trading on Tuesday, hitting $344.95. The company's stock had a trading volume of 3,930,720 shares, compared to its average volume of 6,717,931. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. 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 firm has a market capitalization of $640.84 billion, a P/E ratio of 34.77, a PEG ratio of 2.33 and a beta of 0.95. The stock has a 50-day simple moving average of $341.94 and a 200-day simple moving average of $314.21.
Visa (NYSE:V - Get Free Report) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio is 23.79%.
Visa Company Profile
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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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