Voya Investment Management LLC decreased its position in shares of Visa Inc. (NYSE:V - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,835,765 shares of the credit-card processor's stock after selling 46,180 shares during the quarter. Visa makes up about 0.6% of Voya Investment Management LLC's holdings, making the stock its 24th largest position. Voya Investment Management LLC owned 0.10% of Visa worth $579,755,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Visa by 4.6% in the fourth 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of Visa by 4.4% during 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 acquiring an additional 1,689,926 shares in the last quarter. Capital International Investors increased its holdings in Visa by 3.8% during the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor's stock worth $7,526,660,000 after purchasing an additional 866,596 shares during the last quarter. Capital World Investors raised its position in shares of Visa by 1.0% in the 4th quarter. Capital World Investors now owns 23,277,622 shares of the credit-card processor's stock valued at $7,356,614,000 after purchasing an additional 241,057 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Visa in the fourth quarter worth $5,171,271,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Insider Activity at Visa
In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares in the company, valued at $188,186.28. This trade represents a 94.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Paul D. Fabara sold 39,350 shares of the company's 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 sale, the insider now directly 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 143,205 shares of company stock worth $48,842,490. 0.13% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have recently weighed in on V. Wells Fargo & Company increased their price target on Visa from $360.00 to $395.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. StockNews.com cut Visa from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. The Goldman Sachs Group upped their price target on shares of Visa from $346.00 to $384.00 and gave the stock a "buy" rating in a research report on Friday, January 31st. Barclays upped their target price on shares of Visa from $361.00 to $396.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Citigroup reissued a "neutral" rating on shares of Visa in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Visa currently has an average rating of "Moderate Buy" and a consensus price target of $355.84.
Get Our Latest Research Report on Visa
Visa Stock Performance
NYSE:V opened at $334.49 on Thursday. The firm has a market capitalization of $621.40 billion, a PE ratio of 33.72, a PEG ratio of 2.33 and a beta of 0.94. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $366.54. The firm's fifty day simple moving average is $339.19 and its 200 day simple moving average is $321.50.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Visa Inc. will post 11.3 EPS for the current year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 11th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. The ex-dividend date was Tuesday, February 11th. Visa's payout ratio is presently 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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