Valicenti Advisory Services Inc. lifted its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,705 shares of the credit-card processor’s stock after purchasing an additional 6,030 shares during the quarter. Visa comprises about 2.4% of Valicenti Advisory Services Inc.’s investment portfolio, making the stock its 10th biggest position. Valicenti Advisory Services Inc.’s holdings in Visa were worth $9,249,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of V. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth $2,740,577,000. Lone Pine Capital LLC acquired a new stake in shares of Visa during the fourth quarter worth $1,047,495,000. GQG Partners LLC boosted its holdings in shares of Visa by 46.2% during the fourth quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock worth $2,446,122,000 after purchasing an additional 3,567,771 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Visa by 51.2% during the fourth quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit-card processor’s stock worth $2,090,120,000 after purchasing an additional 3,179,759 shares during the last quarter. Finally, Brown Advisory Inc. boosted its holdings in shares of Visa by 51.7% during the fourth quarter. Brown Advisory Inc. now owns 9,232,310 shares of the credit-card processor’s stock worth $2,000,734,000 after purchasing an additional 3,145,363 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company’s stock.
Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Visa from $279.00 to $284.00 in a report on Wednesday, April 27th. Mizuho cut their target price on Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday. The Goldman Sachs Group initiated coverage on Visa in a research report on Tuesday, May 17th. They issued a “buy” rating and a $282.00 target price on the stock. Cowen cut their target price on Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. Finally, Piper Sandler lowered Visa from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $283.00 to $239.00 in a research report on Friday, April 29th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $266.24.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $195.37, for a total value of $1,758,330.00. Following the completion of the transaction, the chief executive officer now directly owns 159,887 shares in the company, valued at $31,237,123.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 27,000 shares of company stock valued at $5,619,330 over the last quarter. Insiders own 0.21% of the company’s stock.
Shares of NYSE V opened at $199.18 on Friday. Visa Inc. has a 1 year low of $185.91 and a 1 year high of $252.67. The firm has a market cap of $378.70 billion, a price-to-earnings ratio of 31.32, a PEG ratio of 1.75 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock’s 50-day simple moving average is $203.19 and its 200-day simple moving average is $211.78.
Visa (NYSE:V – Get Rating) last announced its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. The business had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, research analysts predict that Visa Inc. will post 7.16 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a $0.375 dividend. The ex-dividend date was Thursday, May 12th. This represents a $1.50 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 23.58%.
About Visa (Get Rating)
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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