Harvest Investment Services LLC acquired a new position in Visa Inc. (NYSE:V - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,139 shares of the credit-card processor's stock, valued at approximately $360,000.
Other large investors have also recently added to or reduced their stakes in the company. Howard Capital Management Group LLC increased its position in shares of Visa by 0.6% during the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor's stock valued at $29,242,000 after purchasing an additional 610 shares during the period. Principal Financial Group Inc. raised its position in Visa by 7.7% in the third quarter. Principal Financial Group Inc. now owns 5,733,284 shares of the credit-card processor's stock worth $1,576,366,000 after acquiring an additional 411,210 shares in the last quarter. Morse Asset Management Inc acquired a new stake in Visa in the 3rd quarter valued at about $69,000. Passumpsic Savings Bank boosted its position in shares of Visa by 2.0% during the 3rd quarter. Passumpsic Savings Bank now owns 9,137 shares of the credit-card processor's stock valued at $2,512,000 after purchasing an additional 179 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of Visa by 101.5% in the 3rd quarter. Virtu Financial LLC now owns 44,984 shares of the credit-card processor's stock worth $12,368,000 after purchasing an additional 22,658 shares in the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Visa Trading Up 3.6 %
NYSE:V opened at $331.74 on Wednesday. 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's 50 day moving average is $339.57 and its 200-day moving average is $321.41. The firm has a market cap of $616.30 billion, a price-to-earnings ratio of 33.44, a P/E/G ratio of 2.33 and a beta of 0.94. 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 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%. Equities analysts anticipate that Visa Inc. will post 11.3 EPS 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 given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio is currently 23.79%.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were 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. This represents a 94.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the sale, the insider now directly owns 36,566 shares in the company, valued at $12,789,689.82. The trade was a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,205 shares of company stock valued at $48,842,490 over the last three months. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on V shares. Piper Sandler restated an "overweight" rating and set a $383.00 target price (up from $368.00) on shares of Visa in a report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and set a $393.00 target price (up from $374.00) on shares of Visa in a research report on Friday, January 31st. Wells Fargo & Company lifted their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group raised their target price on shares of Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, January 31st. Finally, Susquehanna restated a "positive" rating on shares of Visa in a report on Friday, March 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.84.
Check Out Our Latest Stock Report on V
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.
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