Premier Fund Managers Ltd Lowers Stock Holdings in Visa Inc. $V

Premier Fund Managers Ltd lowered its position in shares of Visa Inc. (NYSE:VFree Report) by 42.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,556 shares of the credit-card processor’s stock after selling 114,828 shares during the period. Visa accounts for approximately 3.1% of Premier Fund Managers Ltd’s investment portfolio, making the stock its biggest holding. Premier Fund Managers Ltd’s holdings in Visa were worth $54,675,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Clayton Financial Group LLC increased its stake in shares of Visa by 446.2% during the fourth 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 during the period. PayPay Securities Corp increased its stake in shares of Visa by 102.7% during the fourth quarter. PayPay Securities Corp now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 38 shares during the period. Cresta Advisors Ltd. bought a new position in shares of Visa during the fourth quarter worth approximately $26,000. Parvin Asset Management LLC increased its stake in shares of Visa by 200.0% during the third quarter. Parvin Asset Management LLC now owns 75 shares of the credit-card processor’s stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Dorato Capital Management bought a new position in shares of Visa during the fourth quarter worth approximately $30,000. Institutional investors own 82.15% of the company’s stock.

Wall Street Analyst Weigh In

V has been the topic of a number of recent research reports. Citigroup lowered their target price on Visa from $450.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th. Daiwa Securities Group upgraded Visa from a “neutral” rating to an “outperform” rating and set a $370.00 target price for the company in a research report on Monday, February 2nd. Macquarie Infrastructure reissued an “outperform” rating and set a $410.00 target price on shares of Visa in a report on Friday, January 30th. UBS Group raised their price target on Visa from $390.00 to $410.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $403.00 price target (up from $391.00) on shares of Visa in a research note on Wednesday, April 29th. Six analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $387.25.

Get Our Latest Stock Analysis on Visa

Visa Stock Performance

Shares of NYSE:V opened at $318.95 on Thursday. Visa Inc. has a 1 year low of $293.89 and a 1 year high of $375.51. The stock has a market capitalization of $578.94 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.09 and a quick ratio of 1.09. The company’s 50 day simple moving average is $310.39 and its 200 day simple moving average is $326.87.

Visa (NYSE:VGet Free Report) last released its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share for the quarter, topping the consensus estimate of $3.10 by $0.21. The firm had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.76 earnings per share. As a group, research analysts predict that Visa Inc. will post 13.05 EPS for the current fiscal year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Tuesday, May 12th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, May 12th. Visa’s dividend payout ratio is currently 23.34%.

Visa declared that its Board of Directors has approved a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 3.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Key Visa News

Here are the key news stories impacting Visa this week:

Insider Activity

In related news, Director Lloyd Carney sold 650 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $309.62, for a total value of $201,253.00. Following the sale, the director directly owned 2,679 shares of the company’s stock, valued at $829,471.98. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 31,455 shares of Visa 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 completion of the transaction, the chief executive officer owned 15,174 shares in the company, valued at approximately $5,161,284.36. This represents a 67.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.12% of the company’s stock.

Visa Profile

(Free Report)

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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