Wright Investors Service Inc. decreased its position in Visa Inc. (NYSE:V - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,441 shares of the credit-card processor's stock after selling 3,230 shares during the period. Visa comprises 2.0% of Wright Investors Service Inc.'s portfolio, making the stock its 12th largest holding. Wright Investors Service Inc.'s holdings in Visa were worth $6,144,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. State Street Corp lifted its position in shares of Visa by 4.5% during 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 period. FMR LLC raised its holdings in Visa by 6.1% during the third quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor's stock worth $15,702,901,000 after purchasing an additional 3,265,518 shares during the last quarter. Geode Capital Management LLC boosted its position in Visa by 7.7% during the third 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. Ameriprise Financial Inc. boosted its position in Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor's stock worth $3,833,981,000 after purchasing an additional 345,829 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Visa by 2.2% in the second quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor's stock valued at $3,783,857,000 after buying an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Trading Up 0.8 %
Visa stock traded up $2.32 during midday trading on Tuesday, reaching $309.24. The stock had a trading volume of 5,107,561 shares, compared to its average volume of 5,958,574. The stock's 50-day simple moving average is $312.44 and its 200 day simple moving average is $287.32. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $576.08 billion, a PE ratio of 31.78, a price-to-earnings-growth ratio of 2.11 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company's revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.33 EPS. Analysts expect that Visa Inc. will post 11.23 EPS for the current year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.59 per share. This is an increase from Visa's previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Tuesday, November 12th. Visa's payout ratio is currently 24.25%.
Wall Street Analysts Forecast Growth
V has been the topic of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of Visa from $335.00 to $360.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Piper Sandler increased their price target on shares of Visa from $319.00 to $322.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price objective on Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Barclays increased their target price on Visa from $319.00 to $347.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Wells Fargo & Company boosted their price target on Visa from $325.00 to $360.00 and gave the stock an "overweight" rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $331.92.
Get Our Latest Research Report on Visa
Insider Activity
In other news, CEO Ryan Mcinerney sold 8,620 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.
About Visa
(
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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