Sitrin Capital Management LLC lowered its position in Visa Inc. (NYSE:V – Free Report) by 0.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,179 shares of the credit-card processor’s stock after selling 238 shares during the quarter. Visa comprises about 4.4% of Sitrin Capital Management LLC’s holdings, making the stock its 2nd biggest holding. Sitrin Capital Management LLC’s holdings in Visa were worth $7,255,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its position 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 last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 buying an additional 2,216,275 shares during the last quarter. Geode Capital Management LLC lifted its position in 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 buying an additional 640,839 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of 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 purchasing an additional 24,483,134 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth about $3,067,232,000. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Analysts Set New Price Targets
V has been the topic of several research reports. 22nd Century Group reissued a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Raymond James increased their price target on shares of Visa from $281.00 to $282.00 in a research report on Wednesday, April 26th. Truist Financial increased their price target on shares of Visa from $260.00 to $270.00 in a research report on Wednesday, April 26th. StockNews.com initiated coverage on shares of Visa in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, BMO Capital Markets upped their target price on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and an average price target of $262.52.
Insider Activity at Visa
Visa Stock Performance
Shares of Visa stock opened at $238.14 on Tuesday. The firm’s fifty day simple moving average is $229.20 and its 200-day simple moving average is $225.30. The stock has a market capitalization of $446.11 billion, a price-to-earnings ratio of 31.84, a PEG ratio of 1.81 and a beta of 0.97. Visa Inc. has a 12 month low of $174.60 and a 12 month high of $240.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The business 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%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 EPS. As a group, equities analysts forecast that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors 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 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is 24.06%.
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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