Payden & Rygel Has $17.29 Million Stock Position in Visa Inc. (NYSE:V)

Payden & Rygel decreased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,700 shares of the credit-card processor's stock after selling 6,000 shares during the quarter. Visa comprises approximately 1.5% of Payden & Rygel's holdings, making the stock its 25th biggest holding. Payden & Rygel's holdings in Visa were worth $17,287,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the period. Geode Capital Management LLC lifted its holdings in Visa by 4.4% in the 4th quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock worth $12,729,901,000 after buying an additional 1,689,926 shares in the last quarter. Norges Bank purchased a new position in Visa in the 4th quarter valued at about $5,171,271,000. Charles Schwab Investment Management Inc. grew its stake in shares of Visa by 6.2% during the fourth 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 acquiring an additional 718,558 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of Visa by 1.8% during the fourth quarter. Fisher Asset Management LLC now owns 9,758,703 shares of the credit-card processor's stock worth $3,084,141,000 after acquiring an additional 173,990 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

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Insider Transactions at Visa

In other news, General Counsel Julie B. Rottenberg sold 2,572 shares of the business'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 sale, the general counsel now 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders sold 143,205 shares of company stock valued at $48,842,490. Company insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods restated a "hold" rating on shares of Visa in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their price target on shares of Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Wells Fargo & Company upped their price target on shares of Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a report on Friday, January 31st. StockNews.com lowered shares of Visa from a "buy" rating to a "hold" rating in a report on Monday. Finally, Oppenheimer reissued an "outperform" rating on shares of Visa in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $355.84.

Visa Stock Performance

Shares of V traded down $6.02 during mid-day trading on Tuesday, reaching $306.30. 6,441,438 shares of the company's stock traded hands, compared to its average volume of 7,239,669. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The business's 50-day moving average price is $344.58 and its 200-day moving average price is $317.46. The stock has a market capitalization of $569.04 billion, a P/E ratio of 30.65, a price-to-earnings-growth 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 announced its quarterly 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%. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were paid 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 0.77%. 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.