Liberty Capital Management Inc. reduced its stake in Visa Inc. (NYSE:V – Free Report) by 0.5% in the first quarter, HoldingsChannel.com reports. The fund owned 35,009 shares of the credit-card processor’s stock after selling 159 shares during the quarter. Visa accounts for 2.7% of Liberty Capital Management Inc.’s portfolio, making the stock its 6th biggest position. Liberty Capital Management Inc.’s holdings in Visa were worth $12,269,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Visa by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after purchasing an additional 7,079,706 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Visa by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 40,345,176 shares of the credit-card processor’s stock worth $12,729,901,000 after purchasing an additional 1,689,926 shares during the period. Capital International Investors grew its position in Visa by 3.8% in the 4th quarter. Capital International Investors now owns 23,816,573 shares of the credit-card processor’s stock valued at $7,526,660,000 after buying an additional 866,596 shares in the last quarter. Capital World Investors increased its stake in Visa by 1.0% during 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 buying an additional 241,057 shares during the period. Finally, Northern Trust Corp raised its position in shares of Visa by 18.0% during the 4th quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after buying an additional 2,785,707 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
Visa Stock Performance
Shares of V stock opened at $371.11 on Friday. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $375.51. The company has a 50-day simple moving average of $348.87 and a 200 day simple moving average of $337.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $684.76 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 2.33 and a beta of 0.94.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $2.36 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 23.72%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Macquarie lowered their target price on Visa from $400.00 to $380.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Piper Sandler upped their price target on shares of Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Susquehanna restated a “positive” rating on shares of Visa in a research report on Friday, March 21st. Finally, Wall Street Zen upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $372.80.
Read Our Latest Research Report on V
Insiders Place Their Bets
In other Visa news, insider Paul D. Fabara sold 11,636 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now owns 26,413 shares of the company’s stock, valued at approximately $9,904,875. This represents a 30.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $345.58, for a total transaction of $2,978,899.60. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $185,576.46. This represents a 94.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,448 shares of company stock worth $50,133,659 over the last three months. Insiders own 0.13% of the company’s stock.
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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