MainStreet Investment Advisors LLC increased its position in Visa Inc (NYSE:V) by 33.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,233 shares of the credit-card processor’s stock after purchasing an additional 10,727 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Visa were worth $6,966,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. Banco Santander S.A. grew its stake in Visa by 1.9% in the first quarter. Banco Santander S.A. now owns 1,546,496 shares of the credit-card processor’s stock worth $249,172,000 after purchasing an additional 29,570 shares in the last quarter. TPI Fund Managers Ltd grew its stake in Visa by 3.4% in the first quarter. TPI Fund Managers Ltd now owns 104,367 shares of the credit-card processor’s stock worth $16,816,000 after purchasing an additional 3,423 shares in the last quarter. Fiduciary Group LLC grew its stake in Visa by 4.7% in the first quarter. Fiduciary Group LLC now owns 40,855 shares of the credit-card processor’s stock worth $6,583,000 after purchasing an additional 1,847 shares in the last quarter. Heritage Trust Co boosted its position in Visa by 15.7% during the 1st quarter. Heritage Trust Co now owns 29,106 shares of the credit-card processor’s stock valued at $4,690,000 after acquiring an additional 3,946 shares in the last quarter. Finally, Fosun International Ltd boosted its position in Visa by 26.7% during the 1st quarter. Fosun International Ltd now owns 36,100 shares of the credit-card processor’s stock valued at $5,977,000 after acquiring an additional 7,600 shares in the last quarter. 81.88% of the stock is currently owned by institutional investors.
Several analysts have issued reports on V shares. Cowen increased their target price on Visa from $189.00 to $196.00 and gave the company an “outperform” rating in a research report on Wednesday. KeyCorp dropped their target price on Visa from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. Cantor Fitzgerald increased their target price on Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. BMO Capital Markets dropped their target price on Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Finally, Guggenheim cut Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $202.75.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction dated Monday, March 30th. The stock was sold at an average price of $161.40, for a total transaction of $1,129,800.00. Following the completion of the transaction, the chief executive officer now owns 142,090 shares in the company, valued at approximately $22,933,326. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 21,000 shares of company stock valued at $3,620,540 in the last quarter. Company insiders own 0.19% of the company’s stock.
V stock traded up $0.24 during midday trading on Friday, reaching $190.86. The stock had a trading volume of 5,581,642 shares, compared to its average volume of 9,964,502. The stock has a market cap of $370.47 billion, a PE ratio of 34.39, a P/E/G ratio of 3.03 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a fifty day simple moving average of $173.48 and a two-hundred day simple moving average of $183.49. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17.
Visa (NYSE:V) last issued its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.04. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $1.31 EPS. On average, sell-side analysts predict that Visa Inc will post 4.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is 22.06%.
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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