TRUE Private Wealth Advisors raised its position in shares of Visa Inc. (NYSE:V – Get Rating) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,328 shares of the credit-card processor’s stock after purchasing an additional 360 shares during the period. TRUE Private Wealth Advisors’ holdings in Visa were worth $1,357,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in V. Norges Bank purchased a new position in Visa during the 4th quarter worth $2,740,577,000. Lone Pine Capital LLC purchased a new stake in Visa during the 4th quarter valued at about $1,047,495,000. GQG Partners LLC grew its stake in Visa by 46.2% during the 4th quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock valued at $2,446,122,000 after purchasing an additional 3,567,771 shares during the last quarter. Bank of Montreal Can grew its stake in Visa by 51.2% during the 4th quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit-card processor’s stock valued at $2,090,120,000 after purchasing an additional 3,179,759 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after purchasing an additional 2,659,845 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on V shares. Piper Sandler dropped their price target on Visa from $239.00 to $204.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Evercore ISI boosted their price objective on Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a report on Wednesday, April 27th. The Goldman Sachs Group started coverage on Visa in a report on Tuesday, May 17th. They issued a “buy” rating and a $282.00 price objective for the company. Truist Financial reduced their price target on Visa from $275.00 to $250.00 in a report on Thursday, June 30th. Finally, Macquarie reduced their price target on Visa from $270.00 to $260.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $258.64.
Insiders Place Their Bets
Visa Trading Up 1.1 %
Shares of Visa stock opened at $215.87 on Friday. The firm has a market capitalization of $410.43 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.70 and a beta of 0.89. Visa Inc. has a fifty-two week low of $185.91 and a fifty-two week high of $242.60. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. The stock has a 50 day moving average of $205.31 and a 200 day moving average of $210.48.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 12th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 11th. Visa’s dividend payout ratio (DPR) is 22.12%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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