Solstein Capital LLC reduced its stake in Visa Inc. (NYSE:V – Free Report) by 4.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,628 shares of the credit-card processor’s stock after selling 676 shares during the period. Visa accounts for approximately 2.7% of Solstein Capital LLC’s investment portfolio, making the stock its 8th biggest position. Solstein Capital LLC’s holdings in Visa were worth $3,073,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its holdings in shares of Visa by 1.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 799,904 shares of the credit-card processor’s stock worth $166,188,000 after buying an additional 9,534 shares in the last quarter. Occidental Asset Management LLC increased its position in Visa by 4.3% during the fourth quarter. Occidental Asset Management LLC now owns 11,195 shares of the credit-card processor’s stock worth $2,326,000 after acquiring an additional 465 shares during the period. Private Trust Co. NA raised its stake in Visa by 1.7% in the 4th quarter. Private Trust Co. NA now owns 8,208 shares of the credit-card processor’s stock worth $1,705,000 after purchasing an additional 140 shares in the last quarter. Foster Group Inc. bought a new stake in Visa in the 4th quarter valued at about $210,000. Finally, Forsta AP Fonden grew its position in shares of Visa by 25.8% during the 4th quarter. Forsta AP Fonden now owns 476,286 shares of the credit-card processor’s stock worth $98,953,000 after purchasing an additional 97,600 shares in the last quarter. 84.92% of the stock is owned by institutional investors.
Visa Trading Up 1.3 %
Shares of NYSE V opened at $237.48 on Monday. The firm has a 50 day moving average price of $228.31 and a two-hundred day moving average price of $223.95. The stock has a market cap of $444.88 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.82 and a beta of 0.97. Visa Inc. has a 52-week low of $174.60 and a 52-week high of $238.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50.
Visa Announces Dividend
The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date was Thursday, May 11th. Visa’s dividend payout ratio is currently 24.06%.
Insider Activity at Visa
In other news, Director Lloyd Carney sold 1,288 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $232.97, for a total value of $300,065.36. Following the transaction, the director now owns 2,542 shares in the company, valued at approximately $592,209.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Lloyd Carney sold 1,288 shares of Visa stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $232.97, for a total value of $300,065.36. Following the completion of the transaction, the director now directly owns 2,542 shares of the company’s stock, valued at approximately $592,209.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the sale, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. 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 ninety days. Insiders own 0.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on V. Truist Financial boosted their price target on Visa from $260.00 to $270.00 in a research note on Wednesday, April 26th. KeyCorp increased their target price on Visa from $250.00 to $260.00 in a report on Monday, April 24th. Robert W. Baird upped their price objective on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. Barclays raised their target price on shares of Visa from $270.00 to $272.00 in a report on Monday, May 1st. Finally, StockNews.com started coverage on shares of Visa in a report on Thursday, May 18th. They set a “buy” rating for the company. One 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.
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