Diversify Advisory Services LLC bought a new position in Visa Inc. (NYSE:V – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 34,403 shares of the credit-card processor’s stock, valued at approximately $9,574,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Norges Bank acquired a new position in Visa in the 4th quarter valued at $3,895,015,000. International Assets Investment Management LLC grew its position in Visa by 17,418.7% in the 4th quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after purchasing an additional 4,710,188 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in Visa by 14,306.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,500,270 shares of the credit-card processor’s stock worth $390,595,000 after purchasing an additional 1,489,856 shares during the last quarter. Capital World Investors grew its position in Visa by 8.0% in 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 purchasing an additional 1,323,238 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Visa by 139.4% in the 4th quarter. Capital Research Global Investors now owns 2,185,077 shares of the credit-card processor’s stock worth $568,885,000 after purchasing an additional 1,272,211 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
Insider Buying and Selling at Visa
In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction on 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 $713,950.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Paul D. Fabara sold 25,293 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the completion of 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 SEC, which is accessible through this link. Also, Director Lloyd Carney sold 909 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.
Analysts Set New Price Targets
Visa Stock Up 0.5 %
Shares of V stock traded up $1.30 during trading hours on Friday, hitting $270.29. 7,984,555 shares of the company were exchanged, compared to its average volume of 6,828,352. The business has a 50 day moving average of $273.33 and a two-hundred day moving average of $273.62. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52 week low of $227.68 and a 52 week high of $290.96. The company has a market capitalization of $494.34 billion, a PE ratio of 30.20, a PEG ratio of 1.84 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 EPS for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. Analysts anticipate that Visa Inc. will post 9.94 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.
About Visa
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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