Forum Financial Management LP lessened its position in Visa Inc. (NYSE:V – Free Report) by 6.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,153 shares of the credit-card processor’s stock after selling 849 shares during the period. Forum Financial Management LP’s holdings in Visa were worth $2,740,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Visa by 0.6% in the third 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 during the period. Morgan Stanley lifted its stake in shares of Visa by 13.0% in 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 during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Visa by 4.5% in 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 during the period. Geode Capital Management LLC lifted its stake in shares of Visa by 2.0% in 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 during the period. Finally, Alliancebernstein L.P. increased its holdings in Visa by 7.0% during 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 in the last quarter. Institutional investors and hedge funds own 84.92% of the company’s stock.
Analyst Ratings Changes
V has been the subject of several recent research reports. Barclays raised their target price on shares of Visa from $270.00 to $272.00 in a report on Monday, May 1st. Oppenheimer raised their target price on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a report on Wednesday, April 19th. Citigroup raised their target price on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. Truist Financial raised their target price on shares of Visa from $260.00 to $270.00 in a report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on shares of Visa in a report on Thursday, May 18th. They set a “buy” rating for the company. One 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. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $260.08.
Visa Trading Up 1.3 %
Visa (NYSE:V – Free Report) last posted its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.79 billion. During the same period in the previous year, the company posted $1.79 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 8.58 EPS for the current year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is currently 24.06%.
Insider Transactions at Visa
In other news, CFO Vasant M. Prabhu sold 13,343 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the transaction, the chief financial officer now directly owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the completion of the sale, the chairman now owns 154,854 shares in the company, valued at $36,060,850.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 13,343 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $234.26, for a total transaction of $3,125,731.18. Following the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at approximately $17,250,437.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,277 shares of company stock valued at $27,018,374. Corporate 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.
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