LSV Asset Management Acquires Shares of 156 Visa Inc. $V
by Teresa Graham · The Cerbat GemLSV Asset Management purchased a new stake in shares of Visa Inc. (NYSE:V – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 156 shares of the credit-card processor’s stock, valued at approximately $55,000.
Other hedge funds have also modified their holdings of the company. Nuveen LLC acquired a new position in Visa in the first quarter worth approximately $3,518,533,000. Vanguard Group Inc. increased its stake in shares of Visa by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 161,082,431 shares of the credit-card processor’s stock worth $56,452,949,000 after purchasing an additional 1,677,088 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Visa by 17.7% during the 1st quarter. Wellington Management Group LLP now owns 10,979,720 shares of the credit-card processor’s stock worth $3,847,953,000 after purchasing an additional 1,651,954 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Visa by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 43,096,802 shares of the credit-card processor’s stock valued at $15,253,245,000 after purchasing an additional 1,067,631 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Visa in the 1st quarter valued at $373,240,000. 82.15% of the stock is owned by institutional investors and hedge funds.
Visa Trading Up 1.4%
Shares of Visa stock opened at $328.24 on Friday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The company’s fifty day simple moving average is $340.46 and its 200-day simple moving average is $347.92. The company has a market cap of $597.97 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.92 and a beta of 0.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53.
Visa (NYSE:V – Get Free Report) last released its earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 EPS for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a net margin of 50.15% and a return on equity of 60.31%. The firm had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the company earned $2.71 EPS. The business’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc. will post 11.3 EPS for the current year.
Visa Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a dividend of $0.67 per share. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio is presently 26.25%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on V. Macquarie decreased their price objective on shares of Visa from $425.00 to $410.00 and set an “outperform” rating for the company in a report on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Visa in a report on Wednesday, October 8th. UBS Group set a $425.00 price objective on Visa and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company raised Visa to a “strong-buy” rating in a research report on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $400.00.
View Our Latest Research Report on V
Insider Transactions at Visa
In other news, insider Paul D. Fabara sold 2,172 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the sale, the insider directly owned 26,413 shares in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 10,485 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total value of $3,575,385.00. Following the completion of the transaction, the chief executive officer owned 537 shares of the company’s stock, valued at $183,117. The trade was a 95.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.13% of the stock is owned by corporate insiders.
About Visa
Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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.
Read More
- Five stocks we like better than Visa
- How to Start Investing in Real Estate
- A Magnificent AI Bet? Stanley Druckenmiller’s Latest Tech Moves
- Insider Trading – What You Need to Know
- 12 Analysts Just Raised CrowdStrike Targets—Here’s What They See Coming
- Where to Find Earnings Call Transcripts
- Palo Alto Networks Stock Just Pulled Back—Is This a Prime Buy Zone?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Free Report).