Jupiter Asset Management Ltd. lowered its stake in Visa Inc. (NYSE:V - Free Report) by 16.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 263,360 shares of the credit-card processor's stock after selling 52,856 shares during the period. Visa accounts for approximately 0.8% of Jupiter Asset Management Ltd.'s holdings, making the stock its 18th biggest holding. Jupiter Asset Management Ltd.'s holdings in Visa were worth $83,232,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Visa during the 4th quarter valued at approximately $1,955,403,000. Proficio Capital Partners LLC lifted its position in Visa by 17,018.7% in 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 buying an additional 3,926,049 shares during the last quarter. State Street Corp lifted its position in shares of Visa by 4.5% during the third quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor's stock worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC raised its holdings in shares of Visa by 6.1% in the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Visa by 7.7% in the third quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock valued at $10,601,135,000 after acquiring an additional 2,772,549 shares in the last quarter. Institutional investors own 82.15% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Susquehanna boosted their price target on Visa from $395.00 to $410.00 and gave the stock a "positive" rating in a research note on Friday, February 21st. UBS Group increased their price target on Visa from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, January 31st. Piper Sandler reiterated an "overweight" rating and issued a $383.00 price objective (up previously from $368.00) on shares of Visa in a report on Friday, January 31st. Seaport Res Ptn upgraded Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price target on Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $353.96.
Get Our Latest Analysis on Visa
Visa Stock Down 2.8 %
Visa stock opened at $331.93 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. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The company's 50-day moving average price is $337.01 and its two-hundred day moving average price is $309.89. The stock has a market cap of $616.65 billion, a P/E ratio of 33.46, a P/E/G ratio of 2.33 and a beta of 0.95.
Visa (NYSE:V - Get Free Report) last issued its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (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, analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a yield of 0.71%. Visa's payout ratio is currently 23.79%.
Insiders Place Their Bets
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $340.00, for a total value of $874,480.00. Following the completion of the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,505 shares of company stock worth $22,290,507. Corporate insiders own 0.13% of the company's stock.
Visa Company 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.
See Also
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V - Free Report).
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