Wealth Enhancement Advisory Services LLC lowered its holdings in Visa Inc (NYSE:V) by 16.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,443 shares of the credit-card processor’s stock after selling 6,465 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Visa were worth $5,727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in Visa by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 27,228,424 shares of the credit-card processor’s stock valued at $5,106,530,000 after buying an additional 733,712 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Visa by 0.6% during the first quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after purchasing an additional 116,273 shares in the last quarter. Norges Bank purchased a new position in shares of Visa during the fourth quarter worth about $3,303,463,000. Loomis Sayles & Co. L P lifted its position in Visa by 4.8% in the 4th quarter. Loomis Sayles & Co. L P now owns 16,638,866 shares of the credit-card processor’s stock worth $3,126,443,000 after buying an additional 767,660 shares during the last quarter. Finally, Magellan Asset Management Ltd lifted its position in Visa by 2.8% in the 4th quarter. Magellan Asset Management Ltd now owns 14,517,335 shares of the credit-card processor’s stock worth $2,727,807,000 after buying an additional 394,660 shares during the last quarter. 82.43% of the stock is owned by institutional investors.
V stock opened at $178.44 on Wednesday. Visa Inc has a fifty-two week low of $133.93 and a fifty-two week high of $214.17. The business’s 50-day moving average is $164.32 and its two-hundred day moving average is $182.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.27 and a current ratio of 1.25. The company has a market cap of $345.70 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 2.48 and a beta of 0.92.
Visa (NYSE:V) last posted its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. Visa’s revenue was up 6.6% on a year-over-year basis. Equities analysts predict that Visa Inc will post 5.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.67%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio (DPR) is currently 22.06%.
In related news, CAO James H. Hoffmeister sold 2,186 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $208.71, for a total transaction of $456,240.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajat Taneja sold 10,685 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $208.29, for a total value of $2,225,578.65. Following the sale, the insider now owns 282,318 shares of the company’s stock, valued at approximately $58,804,016.22. The disclosure for this sale can be found here. Insiders sold 39,371 shares of company stock worth $7,463,849 in the last ninety days. Corporate insiders own 0.19% of the company’s stock.
A number of brokerages recently commented on V. Barclays decreased their target price on Visa from $230.00 to $209.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Oppenheimer upped their price target on Visa from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Royal Bank of Canada increased their target price on Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Raymond James increased their target price on Visa from $188.00 to $204.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. Finally, Wells Fargo & Co cut their target price on Visa from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 31st. Five investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $203.00.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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