Capital Investment Advisors LLC increased its position in shares of Visa Inc. (NYSE:V – Free Report) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,036 shares of the credit-card processor’s stock after buying an additional 1,049 shares during the quarter. Capital Investment Advisors LLC’s holdings in Visa were worth $5,708,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its holdings in Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after buying an additional 24,483,134 shares during the last quarter. Norges Bank acquired a new stake in shares of Visa in the 4th quarter worth about $3,067,232,000. Morgan Stanley lifted its position in Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Visa by 130.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after purchasing an additional 3,986,135 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Visa by 3.7% in the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after purchasing an additional 2,572,159 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the subject of several recent research reports. Barclays upped their price target on Visa from $272.00 to $287.00 and gave the stock an “overweight” rating in a report on Monday, July 24th. Oppenheimer reissued an “outperform” rating and set a $248.00 price target on shares of Visa in a research report on Monday, July 24th. Wedbush restated an “outperform” rating and issued a $270.00 target price on shares of Visa in a research note on Thursday, August 31st. Citigroup increased their price target on Visa from $273.00 to $275.00 in a research report on Wednesday, July 26th. Finally, Truist Financial boosted their price objective on Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $273.77.
Visa Stock Up 1.5 %
Visa stock opened at $244.64 on Tuesday. The firm has a market capitalization of $455.48 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 1.81 and a beta of 0.95. The firm has a 50 day simple moving average of $241.67 and a 200 day simple moving average of $232.37. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $250.06. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.98 earnings per share. On average, analysts predict that Visa Inc. will post 8.65 earnings per share for the current year.
Visa Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend was Thursday, August 10th. Visa’s payout ratio is 22.84%.
In related news, insider Rajat Taneja sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $552,000.00. Following the sale, the insider now owns 232,112 shares of the company’s stock, valued at approximately $55,706,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, insider Rajat Taneja sold 2,300 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ryan Mcinerney sold 8,150 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 81,550 shares of company stock worth $19,795,806. 0.21% of the stock is owned by company insiders.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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