First Trust Advisors LP decreased its stake in Visa Inc. (NYSE:V – Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,870,705 shares of the credit-card processor’s stock after selling 67,342 shares during the quarter. First Trust Advisors LP’s holdings in Visa were worth $565,402,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Clayton Financial Group LLC boosted its position in Visa by 446.2% in the 4th quarter. Clayton Financial Group LLC now owns 71 shares of the credit-card processor’s stock worth $25,000 after purchasing an additional 58 shares in the last quarter. PayPay Securities Corp increased its holdings in shares of Visa by 102.7% during the 4th quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 38 shares in the last quarter. Cresta Advisors Ltd. purchased a new position in shares of Visa during the 4th quarter valued at approximately $26,000. Parvin Asset Management LLC lifted its stake in shares of Visa by 200.0% in the 3rd quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management acquired a new position in shares of Visa in the 4th quarter valued at $30,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Price Performance
Visa stock opened at $355.94 on Wednesday. The company’s fifty day moving average price is $335.74 and its 200 day moving average price is $325.08. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $365.14. The stock has a market capitalization of $638.47 billion, a P/E ratio of 31.00, a P/E/G ratio of 1.92 and a beta of 0.75. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.09 and a current ratio of 1.09.
Visa announced that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that permits the company to buyback $20.00 billion in shares. This buyback authorization permits the credit-card processor to purchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Visa Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.8%. Visa’s payout ratio is currently 23.34%.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 31,455 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $340.14, for a total value of $10,699,103.70. Following the transaction, the chief executive officer directly owned 15,174 shares of the company’s stock, valued at approximately $5,161,284.36. This trade represents a 67.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of Visa stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $324.81, for a total value of $3,455,653.59. Following the completion of the sale, the chief financial officer owned 9,872 shares in the company, valued at approximately $3,206,524.32. The trade was a 51.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 75,581 shares of company stock worth $25,627,975 in the last 90 days. Insiders own 0.12% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on V shares. Sanford C. Bernstein restated an “outperform” rating and set a $450.00 price target on shares of Visa in a research report on Tuesday, June 2nd. UBS Group upped their price objective on shares of Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. BNP Paribas Exane raised shares of Visa to a “strong-buy” rating in a research note on Tuesday. Citigroup dropped their target price on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research report on Tuesday, April 14th. Finally, Truist Financial set a $371.00 price target on Visa and gave the company a “buy” rating in a research note on Tuesday, May 12th. Eight analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Visa currently has an average rating of “Buy” and a consensus price target of $398.36.
View Our Latest Stock Report on Visa
Visa Profile
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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