Visa Inc. (NYSE:V) Stock Position Increased by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its stake in shares of Visa Inc. (NYSE:V - Free Report) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 490,900 shares of the credit-card processor's stock after purchasing an additional 16,476 shares during the quarter. Visa comprises approximately 0.8% of Corebridge Financial Inc.'s portfolio, making the stock its 13th biggest position. Corebridge Financial Inc.'s holdings in Visa were worth $155,144,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of V. Riverstone Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $217,000. Journey Strategic Wealth LLC grew its holdings in Visa by 16.4% during the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock worth $3,058,000 after acquiring an additional 1,361 shares during the period. King Wealth Management Group raised its position in Visa by 9.0% in the fourth quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor's stock worth $23,663,000 after acquiring an additional 6,172 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Visa in the fourth quarter worth $10,163,000. Finally, Copley Financial Group Inc. acquired a new stake in Visa in the third quarter valued at $616,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the transaction, the general counsel now directly owns 11,925 shares of the company's stock, valued at approximately $4,054,500. The trade was a 17.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated 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 sale, the insider now owns 26,413 shares in the company, valued at approximately $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 sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on V. Susquehanna reaffirmed a "positive" rating on shares of Visa in a research note on Friday. Wells Fargo & Company upped their target price on shares of Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup reiterated a "neutral" rating on shares of Visa in a research report on Thursday, February 13th. The Goldman Sachs Group upped their price target on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, StockNews.com raised Visa from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Six analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Visa has an average rating of "Moderate Buy" and a consensus target price of $353.96.

Visa Stock Up 0.3 %

NYSE V traded up $1.08 during trading hours on Tuesday, reaching $344.95. 3,930,720 shares of the company traded hands, compared to its average volume of 6,717,931. The stock has a market capitalization of $640.84 billion, a PE ratio of 34.77, a PEG ratio of 2.33 and a beta of 0.95. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12 month low of $252.70 and a 12 month high of $366.54. The company has a 50 day moving average of $341.94 and a two-hundred day moving average of $314.21.

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 the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is 23.79%.

Visa Profile

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.