Beech Hill Advisors Inc. lowered its stake in Visa Inc. (NYSE:V – Get Rating) by 0.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,663 shares of the credit-card processor’s stock after selling 131 shares during the period. Visa accounts for approximately 1.8% of Beech Hill Advisors Inc.’s holdings, making the stock its 22nd biggest holding. Beech Hill Advisors Inc.’s holdings in Visa were worth $3,532,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Visa by 0.6% in the third quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock worth $25,801,337,000 after purchasing an additional 912,545 shares during the period. 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 period. 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 period. Geode Capital Management LLC increased its stake in shares of 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 worth $6,683,673,000 after acquiring an additional 640,839 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Visa by 7.0% during the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after acquiring an additional 1,785,695 shares in the last quarter. 84.92% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Visa
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 document filed with the SEC, which is available at this link. In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction dated 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 owns 26,674 shares of the company’s stock, valued at approximately $6,203,038.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,036,887.68. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock valued at $27,018,374 over the last 90 days. Company insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Visa Stock Down 1.4 %
V stock opened at $226.30 on Tuesday. The business’s 50-day moving average price is $228.47 and its 200-day moving average price is $223.40. The stock has a market cap of $423.93 billion, a P/E ratio of 30.25, a PEG ratio of 1.76 and a beta of 0.97. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Visa Inc. has a twelve month low of $174.60 and a twelve month high of $235.57.
Visa (NYSE:V – Get Rating) last issued 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. The business had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.79 earnings per share. On average, equities research analysts forecast that Visa Inc. will post 8.59 EPS for the current year.
Visa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. Visa’s payout ratio is 24.06%.
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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