Farallon Capital Management LLC reduced its position in Visa Inc. (NYSE:V – Get Rating) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,291,853 shares of the credit-card processor’s stock after selling 122,751 shares during the period. Visa comprises about 1.5% of Farallon Capital Management LLC’s holdings, making the stock its 23rd largest position. Farallon Capital Management LLC owned approximately 0.07% of Visa worth $286,494,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Visa during the 4th quarter valued at about $2,740,577,000. Wellington Management Group LLP increased its holdings in shares of Visa by 33.1% during the 1st quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock valued at $4,928,211,000 after acquiring an additional 5,527,427 shares during the last quarter. Lone Pine Capital LLC acquired a new position in shares of Visa during the 4th quarter valued at about $1,047,495,000. GQG Partners LLC increased its holdings in shares of 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 acquiring an additional 3,567,771 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of 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 acquiring an additional 3,179,759 shares during the last quarter. 81.49% of the stock is owned by institutional investors and hedge funds.
Visa Trading Up 0.7 %
Shares of V opened at $206.63 on Tuesday. The stock has a fifty day moving average price of $207.79 and a two-hundred day moving average price of $207.79. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.43 and a current ratio of 1.43. Visa Inc. has a 52-week low of $185.91 and a 52-week high of $236.96. The company has a market cap of $390.62 billion, a price-to-earnings ratio of 30.48, a PEG ratio of 1.66 and a beta of 0.90.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Friday, August 12th were paid a $0.375 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is currently 22.12%.
Insider Activity
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction on Friday, July 29th. The stock was sold at an average price of $212.11, for a total value of $1,908,990.00. Following the completion of the sale, the chief executive officer now directly owns 156,887 shares of the company’s stock, valued at approximately $33,277,301.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the topic of a number of analyst reports. Royal Bank of Canada lowered their price objective on Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Susquehanna lowered their target price on Visa from $290.00 to $260.00 in a report on Thursday, July 28th. Daiwa Capital Markets lowered Visa from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $230.00 to $225.00 in a report on Tuesday, August 16th. UBS Group raised their target price on Visa from $292.00 to $296.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Wells Fargo & Company lowered their target price on Visa from $280.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $257.64.
Visa Profile
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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.
See Also
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