ShoreHaven Wealth Partners LLC acquired a new stake in shares of Visa Inc. (NYSE:V – Get Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 891 shares of the credit-card processor’s stock, valued at approximately $201,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Visa by 116,608.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares in the last quarter. Norges Bank purchased a new position in shares of Visa in the 4th quarter worth approximately $3,067,232,000. Morgan Stanley grew its position in shares of Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after buying an additional 5,864,340 shares during the last quarter. Cottage Street Advisors LLC grew its position in shares of Visa by 15,603.1% in the 4th quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock worth $998,000 after buying an additional 3,136,223 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of 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 worth $10,616,564,000 after buying an additional 2,216,275 shares during the last quarter. Institutional investors own 84.92% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Citigroup lifted their price objective on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. 22nd Century Group reissued a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Robert W. Baird boosted their target price on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer boosted their target price on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.08.
Visa Stock Performance
Visa (NYSE:V – Get Rating) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (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 during the quarter, compared to analysts’ expectations of $7.79 billion. During the same period in the previous year, the business posted $1.79 EPS. The business’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were paid a $0.45 dividend. 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 currently 24.06%.
Insiders Place Their Bets
In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 26,674 shares in the company, valued at $6,203,038.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, Director Lloyd Carney sold 1,288 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 2,542 shares in the company, valued at $592,209.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tullier Kelly Mahon sold 54,146 shares of the company’s stock in a transaction 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 transaction, the insider now owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,277 shares of company stock worth $27,018,374. Company insiders own 0.21% of the company’s stock.
Visa 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.
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
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.
