Te Ahumairangi Investment Management Ltd lessened its stake in shares of Visa Inc. (NYSE:V - Free Report) by 23.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,727 shares of the credit-card processor's stock after selling 8,737 shares during the quarter. Visa accounts for 1.9% of Te Ahumairangi Investment Management Ltd's investment portfolio, making the stock its 11th biggest position. Te Ahumairangi Investment Management Ltd's holdings in Visa were worth $9,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Visa in the 4th quarter worth approximately $5,171,271,000. Vanguard Group Inc. grew its holdings in Visa by 4.6% during 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 purchasing an additional 7,079,706 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Visa during the fourth quarter valued at about $1,955,403,000. Proficio Capital Partners LLC increased its holdings in Visa by 17,018.7% during 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 during the last quarter. Finally, State Street Corp raised its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 82.15% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on V shares. Bank of America lifted their price target on shares of Visa from $331.00 to $363.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Susquehanna restated a "positive" rating on shares of Visa in a research note on Friday, March 21st. UBS Group lifted their price target on Visa from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and set a $383.00 price objective (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. increased their target price on Visa from $340.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Five equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $355.84.
Get Our Latest Analysis on V
Visa Stock Performance
Shares of V traded down $7.19 during trading hours on Thursday, reaching $339.14. 8,786,063 shares of the company's stock traded hands, compared to its average volume of 7,162,846. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The business's fifty day simple moving average is $345.14 and its two-hundred day simple moving average is $316.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $630.04 billion, a price-to-earnings ratio of 34.19, a P/E/G ratio of 2.33 and a beta of 0.94.
Visa (NYSE:V - Get Free Report) last announced its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. Analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were issued 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 0.70%. Visa's payout ratio is 23.79%.
Insiders Place Their Bets
In other news, CEO Ryan Mcinerney sold 8,620 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the sale, the chief executive officer now owns 537 shares of the company's stock, valued at approximately $188,186.28. The trade was a 94.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tullier Kelly Mahon sold 33,741 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total value of $11,801,589.57. Following the transaction, the insider now directly owns 36,566 shares of the company's stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock worth $48,842,490 over the last ninety days. Company insiders own 0.13% of the company's stock.
About Visa
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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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