Wealthfront Advisers LLC reduced its position in Visa Inc. (NYSE:V - Free Report) by 86.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,286 shares of the credit-card processor's stock after selling 129,630 shares during the period. Wealthfront Advisers LLC's holdings in Visa were worth $6,411,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. State Street Corp increased its position 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 worth $21,064,179,000 after purchasing an additional 3,327,977 shares during the last quarter. FMR LLC increased its position in Visa by 6.1% in the 3rd 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 increased its position 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 worth $10,601,135,000 after purchasing an additional 2,772,549 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position 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 worth $3,868,646,000 after purchasing an additional 718,558 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $3,188,862,000 after purchasing an additional 123,927 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $363.00, for a total transaction of $3,129,060.00. Following the completion of the sale, the chief executive officer now directly owns 537 shares of the company's stock, valued at $194,931. This trade represents a 94.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total value of $874,480.00. Following the sale, the general counsel now directly owns 11,925 shares of the company's stock, valued at $4,054,500. This represents a 17.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,505 shares of company stock worth $22,290,507 in the last 90 days. 0.13% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on V shares. StockNews.com lowered Visa from a "buy" rating to a "hold" rating in a research report on Wednesday. Raymond James reissued an "outperform" rating and set a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Oppenheimer reissued an "outperform" rating on shares of Visa in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on Visa from $360.00 to $395.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Morgan Stanley increased their price objective on Visa from $326.00 to $371.00 and gave the company an "overweight" rating in a report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $353.96.
Read Our Latest Stock Analysis on V
Visa Price Performance
Shares of V stock opened at $333.01 on Thursday. The stock has a 50 day moving average of $337.35 and a two-hundred day moving average of $310.05. 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 12 month low of $252.70 and a 12 month high of $366.54. The company has a market capitalization of $618.66 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.33 and a beta of 0.95.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 EPS for the quarter, topping 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, equities analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Tuesday, February 11th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, February 11th. This represents a $2.36 annualized dividend and a dividend yield of 0.71%. Visa's dividend payout ratio (DPR) is presently 23.79%.
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.
Further Reading
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