Matrix Asset Advisors Inc. NY purchased a new position in Visa Inc. (NYSE:V – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,001 shares of the credit-card processor’s stock, valued at approximately $226,000.
A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Visa by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock worth $25,801,337,000 after buying an additional 912,545 shares in the last quarter. Morgan Stanley grew its position in shares of Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after purchasing an additional 5,864,340 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 4.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after purchasing an additional 2,216,275 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock valued at $6,683,673,000 after purchasing an additional 640,839 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Visa by 7.0% during the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after purchasing an additional 1,785,695 shares in the last quarter. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently weighed in on V shares. Robert W. Baird raised their price objective on Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Raymond James raised their price objective on Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. BMO Capital Markets raised their price objective on Visa from $253.00 to $263.00 in a research report on Wednesday, April 26th. Truist Financial raised their price objective on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer raised their price objective on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $260.08.
Visa Stock Up 0.5 %
Visa (NYSE:V – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.79 billion. During the same quarter in the previous year, the firm posted $1.79 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio is presently 24.06%.
Insider Activity
In other news, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,036,887.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Lloyd Carney sold 1,288 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $232.97, for a total transaction of $300,065.36. Following the transaction, the director now directly owns 2,542 shares of the company’s stock, valued at $592,209.74. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Vasant M. Prabhu sold 40,000 shares of Visa stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,277 shares of company stock valued at $27,018,374. Corporate insiders own 0.22% of the company’s stock.
About Visa
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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