International Assets Investment Management LLC cut its stake in Visa Inc. (NYSE:V – Free Report) by 99.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,165 shares of the credit-card processor’s stock after selling 9,721,340 shares during the period. Visa makes up about 0.5% of International Assets Investment Management LLC’s holdings, making the stock its 23rd largest holding. International Assets Investment Management LLC’s holdings in Visa were worth $11,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in V. Custom Index Systems LLC acquired a new stake in shares of Visa in the third quarter valued at $731,000. Copley Financial Group Inc. purchased a new stake in Visa during the 3rd quarter worth approximately $616,000. FORA Capital LLC acquired a new position in Visa during the 3rd quarter worth $7,987,000. Chicago Capital LLC boosted its stake in shares of Visa by 5.2% in the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Finally, Nexus Investment Management ULC grew its position in shares of Visa by 5,034.0% during the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor’s stock worth $15,499,000 after buying an additional 55,273 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on V. Piper Sandler boosted their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. BMO Capital Markets upped their target price on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Susquehanna boosted their price objective on shares of Visa from $339.00 to $375.00 and gave the company a “positive” rating in a research note on Wednesday, December 11th. Finally, Jefferies Financial Group raised their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and a consensus target price of $329.70.
Visa Trading Up 0.4 %
Shares of V traded up $1.23 on Wednesday, hitting $312.90. 865,626 shares of the stock traded hands, compared to its average volume of 4,350,646. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $321.61. The stock’s 50 day moving average is $310.90 and its two-hundred day moving average is $286.27. The firm has a market capitalization of $582.89 billion, a P/E ratio of 32.16, a P/E/G ratio of 2.11 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.13. The business had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. The business’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the business earned $2.33 EPS. As a group, sell-side analysts predict that Visa Inc. will post 11.23 earnings per share for the current year.
Visa Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This is an increase from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is currently 24.25%.
Insider Activity at Visa
In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares in the company, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
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.
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