Stevens Capital Management LP reduced its stake in shares of Visa Inc. (NYSE:V - Free Report) by 75.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,913 shares of the credit-card processor's stock after selling 6,040 shares during the quarter. Stevens Capital Management LP's holdings in Visa were worth $605,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its stake 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 acquiring an additional 3,327,977 shares during the last quarter. FMR LLC grew its position 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 purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock worth $10,601,135,000 after purchasing an additional 2,772,549 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Visa by 6.2% during the 4th 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Visa by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,597,969 shares of the credit-card processor's stock worth $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on V. Piper Sandler reissued an "overweight" rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research report on Friday, January 31st. Seaport Res Ptn raised Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. UBS Group upped their target price on shares of Visa from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, January 31st. Morgan Stanley lifted their price target on shares of Visa from $326.00 to $371.00 and gave the stock an "overweight" rating in a report on Wednesday, December 18th. Finally, Bank of America boosted their price objective on shares of Visa from $331.00 to $363.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Six research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Visa presently has a consensus rating of "Moderate Buy" and an average target price of $353.96.
Read Our Latest Analysis on V
Visa Stock Up 0.3 %
Shares of Visa stock traded up $1.08 during trading hours on Tuesday, hitting $344.95. 3,930,720 shares of the company's stock traded hands, compared to its average volume of 6,717,931. 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 stock has a 50 day simple moving average of $341.23 and a 200-day simple moving average of $313.75. The company has a market cap of $640.84 billion, a PE ratio of 34.77, a PEG ratio of 2.33 and a beta of 0.95.
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 net margin of 54.27% and a return on equity of 54.79%. Equities research analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. Visa's payout ratio is 23.79%.
Insider Activity
In other Visa news, General Counsel Julie B. Rottenberg sold 2,572 shares of Visa stock in a transaction that occurred 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 transaction, the general counsel now directly owns 11,925 shares in the company, valued at $4,054,500. The trade was a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 39,350 shares of the stock in a transaction dated 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 directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This trade represents a 59.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 143,205 shares of company stock worth $48,560,961. 0.13% of the stock is currently owned by insiders.
Visa 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.
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