Congress Asset Management Co. MA Has $159.12 Million Stock Position in Visa Inc. (NYSE:V)

Congress Asset Management Co. MA decreased its stake in shares of Visa Inc. (NYSE:VFree Report) by 0.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 570,151 shares of the credit-card processor’s stock after selling 1,022 shares during the quarter. Visa comprises about 1.1% of Congress Asset Management Co. MA’s portfolio, making the stock its 19th biggest holding. Congress Asset Management Co. MA’s holdings in Visa were worth $159,118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its stake in shares of Visa by 2.7% during the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after acquiring an additional 596,950 shares during the period. Capital World Investors boosted its stake in shares of Visa by 8.0% during the 4th quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after acquiring an additional 1,323,238 shares during the period. Norges Bank bought a new position in shares of Visa during the 4th quarter worth approximately $3,895,015,000. Ameriprise Financial Inc. boosted its stake in shares of Visa by 2.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock worth $3,272,846,000 after acquiring an additional 374,489 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Visa by 0.7% during the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after acquiring an additional 85,123 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the transaction, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Visa news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the completion of the sale, the director now owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on V shares. Macquarie boosted their price target on Visa from $290.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Evercore ISI boosted their price target on Visa from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Tuesday, March 26th. Mizuho boosted their price target on Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, Wedbush boosted their price target on Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $303.76.

Check Out Our Latest Stock Report on V

Visa Price Performance

Visa stock opened at $275.22 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.40 and a current ratio of 1.40. Visa Inc. has a 52 week low of $225.50 and a 52 week high of $290.96. The stock has a market capitalization of $503.36 billion, a P/E ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The stock has a fifty day moving average of $273.97 and a 200-day moving average of $273.01.

Visa (NYSE:VGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. Visa had a return on equity of 51.23% and a net margin of 53.87%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the previous year, the firm earned $2.09 EPS. Visa’s revenue was up 9.9% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 9.94 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $2.08 dividend on an annualized basis and a yield of 0.76%. Visa’s payout ratio is presently 23.24%.

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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