Accredited Investors Inc. decreased its holdings in Visa Inc (NYSE:V) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,482 shares of the credit-card processor’s stock after selling 60 shares during the period. Accredited Investors Inc.’s holdings in Visa were worth $286,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. boosted its holdings in shares of Visa by 6.3% during the 4th quarter. Sunbelt Securities Inc. now owns 55,719 shares of the credit-card processor’s stock valued at $10,470,000 after acquiring an additional 3,298 shares in the last quarter. Stillwater Investment Management LLC raised its position in Visa by 1.4% in the first quarter. Stillwater Investment Management LLC now owns 39,410 shares of the credit-card processor’s stock valued at $6,350,000 after purchasing an additional 560 shares during the last quarter. Woodstock Corp boosted its stake in shares of Visa by 1.1% during the first quarter. Woodstock Corp now owns 22,045 shares of the credit-card processor’s stock valued at $3,552,000 after purchasing an additional 235 shares in the last quarter. Lenox Wealth Advisors LLC grew its holdings in shares of Visa by 1.6% during the first quarter. Lenox Wealth Advisors LLC now owns 5,793 shares of the credit-card processor’s stock worth $933,000 after purchasing an additional 92 shares during the last quarter. Finally, Pensionfund Sabic grew its holdings in shares of Visa by 3.6% during the first quarter. Pensionfund Sabic now owns 28,400 shares of the credit-card processor’s stock worth $4,576,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 81.41% of the company’s stock.
Several equities research analysts recently commented on V shares. Cowen lifted their target price on shares of Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 20th. Piper Sandler lifted their price target on shares of Visa from $200.00 to $206.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James increased their price objective on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank of Canada lifted their target price on Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, Oppenheimer assumed coverage on Visa in a research note on Tuesday, June 23rd. They issued an “outperform” rating and a $202.00 price target for the company. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $207.56.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $194.50, for a total value of $1,361,500.00. Following the completion of the sale, the chief executive officer now directly owns 136,090 shares of the company’s stock, valued at $26,469,505. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Ryan Mcinerney sold 26,150 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total value of $5,017,400.50. The disclosure for this sale can be found here. Insiders sold 50,429 shares of company stock worth $9,746,754 over the last ninety days. Insiders own 0.19% of the company’s stock.
Shares of NYSE:V opened at $190.40 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.55. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17. The business’s 50 day simple moving average is $194.04 and its two-hundred day simple moving average is $187.14. The firm has a market cap of $377.15 billion, a P/E ratio of 36.07, a PEG ratio of 3.09 and a beta of 0.92.
Visa (NYSE:V) last issued its earnings results on Tuesday, July 28th. The credit-card processor reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.05. Visa had a return on equity of 40.65% and a net margin of 51.37%. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. Visa’s revenue for the quarter was down 18.6% on a year-over-year basis. On average, equities analysts forecast that Visa Inc will post 4.98 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $1.20 annualized dividend and a yield of 0.63%. Visa’s payout ratio is 22.06%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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