Pictet Asset Management Holding SA cut its position in shares of Visa Inc. (NYSE:V - Free Report) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,681,657 shares of the credit-card processor's stock after selling 11,560 shares during the quarter. Visa comprises 0.9% of Pictet Asset Management Holding SA's investment portfolio, making the stock its 19th biggest holding. Pictet Asset Management Holding SA owned approximately 0.14% of Visa worth $847,511,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Norges Bank purchased a new position in Visa during the fourth quarter valued at $5,171,271,000. Vanguard Group Inc. raised its position in shares of Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor's stock worth $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Visa in the 4th quarter worth about $1,955,403,000. Proficio Capital Partners LLC boosted its stake in Visa by 17,018.7% in the 4th 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 in the last quarter. Finally, State Street Corp grew its position in Visa by 4.5% during the 3rd 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 last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Visa
In related news, insider Paul D. Fabara sold 39,350 shares of the business's stock in a transaction on 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 completion of the transaction, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. The trade was a 59.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total value of $3,129,060.00. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $194,931. This trade represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock valued at $48,560,961. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Keefe, Bruyette & Woods reaffirmed a "hold" rating on shares of Visa in a research report on Thursday, February 13th. Susquehanna reissued a "positive" rating on shares of Visa in a report on Friday, March 21st. Bank of America upped their price target on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, Raymond James reissued an "outperform" rating and issued a $393.00 target price (up previously from $374.00) on shares of Visa in a research report on Friday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.84.
Get Our Latest Analysis on Visa
Visa Price Performance
NYSE V traded up $1.65 during trading hours on Monday, reaching $344.50. The company's stock had a trading volume of 3,026,705 shares, compared to its average volume of 6,512,799. 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 company has a market capitalization of $640.01 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.33 and a beta of 0.95. The firm's 50-day moving average price is $343.60 and its 200-day moving average price is $315.49.
Visa (NYSE:V - Get Free Report) last released its 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%. On average, equities research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Dividend Announcement
The company 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. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.69%. Visa's dividend payout ratio (DPR) 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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