Leavell Investment Management Inc. reduced its position in Visa Inc. (NYSE:V – Get Rating) by 1.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 52,866 shares of the credit-card processor’s stock after selling 575 shares during the quarter. Visa comprises about 0.9% of Leavell Investment Management Inc.’s holdings, making the stock its 29th largest position. Leavell Investment Management Inc.’s holdings in Visa were worth $11,919,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Visa by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after purchasing an additional 912,545 shares in the last quarter. Morgan Stanley grew its stake 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 during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Visa by 4.5% in the 4th 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 acquiring an additional 2,216,275 shares during the last quarter. Geode Capital Management LLC grew its stake in Visa by 2.0% in the 4th 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 acquiring an additional 640,839 shares during the last quarter. Finally, Alliancebernstein L.P. grew its stake in Visa by 7.0% in the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares during the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, insider Tullier Kelly Mahon sold 54,146 shares of Visa stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the sale, the insider now owns 26,674 shares in the company, valued at $6,203,038.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Vasant M. Prabhu sold 40,000 shares of the firm’s 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 54,146 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at approximately $6,203,038.70. The disclosure for this sale can be found here. Insiders have sold 116,277 shares of company stock worth $27,018,374 over the last 90 days. Company insiders own 0.22% of the company’s stock.
Visa Trading 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 EPS 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 for the quarter, compared to analyst estimates of $7.79 billion. During the same quarter last year, the firm posted $1.79 earnings per share. Visa’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts predict that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a yield of 0.78%. Visa’s payout ratio is 24.06%.
Analyst Upgrades and Downgrades
V has been the topic of a number of research reports. Truist Financial increased their price objective on shares of Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. Citigroup increased their price objective on shares of Visa from $270.00 to $273.00 in a research note on Wednesday, April 26th. Barclays increased their price objective on shares of Visa from $270.00 to $272.00 in a research note on Monday, May 1st. KeyCorp increased their price objective on shares of Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Finally, Oppenheimer raised their price target on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $260.08.
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.
Featured Stories
- Get a free research report on Visa from StockNews.com
- MarketBeat Week in Review – 6/19 – 6/23
- CarMax Stock Flying On Earnings Beat, Return Of The Highs?
- Commercial Metals Company Shakes Off The Rust: Confirms Uptrend
- Smith & Wesson, A Timeless Value Play At Decade Lows
- Five stocks we like better than Visa
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Get Rating).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
