Vestcor Inc boosted its stake in Visa Inc. (NYSE:V - Free Report) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 60,289 shares of the credit-card processor's stock after buying an additional 962 shares during the quarter. Vestcor Inc's holdings in Visa were worth $19,054,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of V. 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 purchasing an additional 3,327,977 shares during the period. FMR LLC grew its stake in Visa by 6.1% in the 3rd 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 period. Geode Capital Management LLC grew its stake in Visa by 7.7% in the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor's stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Visa by 6.2% in the 4th 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 purchasing an additional 718,558 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Visa by 1.1% in 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 valued at $3,188,862,000 after purchasing an additional 123,927 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Stock Performance
NYSE:V opened at $333.01 on Thursday. The business's 50-day moving average price is $337.35 and its two-hundred day moving average price is $310.05. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54. The stock has a market cap of $618.66 billion, a P/E ratio of 33.57, a PEG ratio of 2.33 and a beta of 0.95. 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 (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 for the quarter, beating the consensus estimate 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 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. Investors 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 dividend on an annualized basis and a dividend yield of 0.71%. Visa's dividend payout ratio is 23.79%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on V shares. William Blair restated an "outperform" rating on shares of Visa in a research note on Friday, January 31st. Bank of America upped 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. Seaport Res Ptn upgraded Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reiterated a "hold" rating on shares of Visa in a research note on Thursday, February 13th. Finally, Piper Sandler reiterated an "overweight" rating and set a $383.00 price target (up previously from $368.00) on shares of Visa in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $353.96.
Read Our Latest Report on V
Insider Activity at Visa
In other Visa news, insider Tullier Kelly Mahon sold 33,741 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was 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. The trade was a 47.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Peter M. Andreski sold 2,332 shares of Visa stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $349.62, for a total value of $815,313.84. Following the completion of the transaction, the chief accounting officer now directly owns 4,488 shares in the company, valued at $1,569,094.56. This trade represents a 34.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,505 shares of company stock valued at $22,290,507. Corporate insiders own 0.13% of the company's stock.
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.
See Also
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