Public Investment Fund Cuts Stock Position in Visa Inc. (NYSE:V)

Public Investment Fund reduced its stake in Visa Inc. (NYSE:V - Free Report) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 673,196 shares of the credit-card processor's stock after selling 129,096 shares during the quarter. Visa accounts for 0.8% of Public Investment Fund's portfolio, making the stock its 19th largest position. Public Investment Fund's holdings in Visa were worth $212,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of V. Topsail Wealth Management LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $1,676,000. Hancock Whitney Corp boosted its holdings in shares of Visa by 0.9% during the fourth quarter. Hancock Whitney Corp now owns 94,394 shares of the credit-card processor's stock worth $29,832,000 after acquiring an additional 824 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of Visa by 8.4% in the fourth quarter. Integrated Wealth Concepts LLC now owns 84,546 shares of the credit-card processor's stock valued at $26,720,000 after acquiring an additional 6,576 shares during the period. Burling Wealth Partners LLC acquired a new stake in Visa during the fourth quarter worth approximately $3,817,000. Finally, RiverPark Advisors LLC increased its holdings in Visa by 1.8% in the 4th quarter. RiverPark Advisors LLC now owns 13,940 shares of the credit-card processor's stock valued at $4,406,000 after buying an additional 253 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Paul D. Fabara sold 39,350 shares of Visa stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $340.41, for a total transaction of $13,395,133.50. Following the completion of the sale, the insider now owns 26,413 shares of the company's stock, valued at approximately $8,991,249.33. This trade represents a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This represents a 94.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 143,205 shares of company stock valued at $48,842,490 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa Stock Down 0.1 %

V stock traded down $0.21 during trading on Friday, reaching $335.50. 4,451,694 shares of the stock were exchanged, compared to its average volume of 7,211,210. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. The firm's 50 day moving average is $338.42 and its 200 day moving average is $322.66. The firm has a market cap of $623.28 billion, a P/E ratio of 33.82, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $366.54.

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, beating 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, research analysts forecast that Visa Inc. will post 11.3 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Tuesday, February 11th. Visa's dividend payout ratio (DPR) is 23.79%.

Analysts Set New Price Targets

Several analysts recently weighed in on V shares. The Goldman Sachs Group raised their price objective on Visa from $346.00 to $384.00 and gave the company a "buy" rating in a research note on Friday, January 31st. Citigroup restated a "neutral" rating on shares of Visa in a research note on Thursday, February 13th. Piper Sandler reiterated an "overweight" rating and set a $383.00 price objective (up from $368.00) on shares of Visa in a research report on Friday, January 31st. William Blair reaffirmed an "outperform" rating on shares of Visa in a research note on Friday, January 31st. Finally, Seaport Res Ptn upgraded Visa from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $358.17.

Visa Company Profile

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.