Penserra Capital Management LLC grew its stake in shares of Visa Inc. (NYSE:V – Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 660,257 shares of the credit-card processor’s stock after acquiring an additional 39,578 shares during the quarter. Visa comprises about 3.1% of Penserra Capital Management LLC’s holdings, making the stock its 2nd largest position. Penserra Capital Management LLC’s holdings in Visa were worth $148,860,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its stake in Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after acquiring an additional 24,483,134 shares during the last quarter. Norges Bank acquired a new stake in Visa during the 4th quarter worth approximately $3,067,232,000. Morgan Stanley raised its holdings in 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 buying an additional 5,864,340 shares during the period. Cottage Street Advisors LLC raised its holdings in Visa by 15,603.1% in the fourth quarter. Cottage Street Advisors LLC now owns 3,156,323 shares of the credit-card processor’s stock valued at $998,000 after buying an additional 3,136,223 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Visa by 4.5% during 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 buying an additional 2,216,275 shares in the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Visa news, Director Lloyd Carney sold 1,288 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $592,209.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Lloyd Carney sold 1,288 shares of the stock in a transaction on 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 owns 2,542 shares of the company’s stock, valued at $592,209.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 24,025 shares of Visa stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total transaction of $5,766,000.00. The disclosure for this sale can be found here. Insiders have sold 142,602 shares of company stock valued at $33,336,374 over the last three months. Company insiders own 0.22% of the company’s stock.
Visa Trading Down 1.0 %
Visa (NYSE:V – Free Report) last issued its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. Visa’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.79 earnings per share. On average, equities analysts expect that Visa Inc. will post 8.59 earnings per share for the current year.
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 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 yield of 0.76%. Visa’s payout ratio is currently 24.06%.
Wall Street Analyst Weigh In
V has been the topic of several recent research reports. Raymond James lifted their target price on shares of Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. Citigroup boosted their price objective on Visa from $270.00 to $273.00 in a research note on Wednesday, April 26th. KeyCorp increased their target price on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Truist Financial boosted their price target on Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer increased their price objective on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has an average rating of “Moderate Buy” and an average target price of $262.52.
Visa Company 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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