Pitcairn Co. cut its stake in Visa Inc. (NYSE:V - Free Report) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,237 shares of the credit-card processor's stock after selling 981 shares during the period. Visa makes up about 0.6% of Pitcairn Co.'s holdings, making the stock its 23rd largest holding. Pitcairn Co.'s holdings in Visa were worth $9,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. State Street Corp increased its holdings in Visa by 4.5% in 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. Geode Capital Management LLC raised its position in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor's stock valued at $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Norges Bank purchased a new stake in Visa in the fourth quarter valued at approximately $5,171,271,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in 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 worth $3,868,646,000 after purchasing an additional 718,558 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Visa
In other news, insider Paul D. Fabara sold 39,350 shares of the company's stock in a transaction that occurred 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 sale, the insider now owns 26,413 shares in the company, valued at $8,642,333.60. This represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction on Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the completion of the transaction, the insider now owns 36,566 shares in the company, valued at approximately $12,789,689.82. This trade represents a 47.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 143,205 shares of company stock worth $48,842,490 in the last 90 days. 0.13% of the stock is owned by insiders.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on V shares. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. StockNews.com upgraded shares of Visa from a "hold" rating to a "buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $340.00 to $375.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. 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. Finally, Raymond James reiterated an "outperform" rating and set a $393.00 target price (up from $374.00) on shares of Visa in a report on Friday, January 31st. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Visa has an average rating of "Moderate Buy" and a consensus target price of $355.84.
Check Out Our Latest Analysis on Visa
Visa Stock Performance
NYSE V traded down $25.93 during trading hours on Friday, hitting $313.46. The company had a trading volume of 13,195,055 shares, compared to its average volume of 7,197,235. The business has a 50 day moving average of $345.36 and a 200-day moving average of $316.73. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1-year low of $252.70 and a 1-year high of $366.54. The company has a market cap of $582.34 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last released 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%. As a group, equities research analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a $0.59 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.75%. Visa's payout ratio is 23.79%.
Visa 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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