Ten Capital Wealth Advisors LLC lifted its position in shares of Visa Inc. (NYSE:V – Get Rating) by 14.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,320 shares of the credit-card processor's stock after acquiring an additional 170 shares during the quarter. Ten Capital Wealth Advisors LLC's holdings in Visa were worth $234,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of V. BCK Partners Inc. acquired a new position in Visa in the 1st quarter valued at $2,717,000. Markel Corp raised its holdings in Visa by 0.3% in the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor's stock valued at $213,144,000 after acquiring an additional 3,065 shares during the last quarter. AMI Investment Management Inc. acquired a new position in Visa in the 1st quarter valued at $2,323,000. Ergoteles LLC acquired a new position in Visa in the 1st quarter valued at $538,000. Finally, XTX Topco Ltd acquired a new position in Visa in the 1st quarter valued at $1,496,000. Hedge funds and other institutional investors own 81.87% of the company's stock.
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Insider Activity at Visa
In other Visa news, insider Rajat Taneja sold 25,627 shares of the firm's stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the transaction, the insider now owns 232,112 shares of the company's stock, valued at $50,291,707.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, President Ryan Mcinerney sold 58,197 shares of the firm's stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rajat Taneja sold 25,627 shares of the firm's stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $216.67, for a total transaction of $5,552,602.09. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $50,291,707.04. The disclosure for this sale can be found here. Insiders sold a total of 145,545 shares of company stock valued at $23,379,061 in the last quarter. Insiders own 0.21% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on Visa from $250.00 to $265.00 and gave the company an "overweight" rating in a report on Friday, January 27th. Truist Financial upped their price objective on Visa from $235.00 to $260.00 in a report on Friday, January 20th. Credit Suisse Group upped their price objective on Visa from $245.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, January 27th. Jefferies Financial Group upped their price objective on Visa from $225.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, January 18th. Finally, UBS Group dropped their price objective on Visa from $290.00 to $287.00 and set a "buy" rating for the company in a report on Thursday, December 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $259.11.
Visa Stock Down 0.4 %
NYSE:V traded down $1.03 during mid-day trading on Monday, reaching $229.10. The stock had a trading volume of 389,182 shares, compared to its average volume of 6,093,070. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $430.94 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 1.81 and a beta of 0.96. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The stock's 50 day simple moving average is $215.83 and its two-hundred day simple moving average is $205.82.
Visa (NYSE:V – Get Rating) last issued its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, topping the consensus estimate of $2.01 by $0.17. The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The business's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.81 EPS. Equities analysts anticipate that Visa Inc. will post 8.41 EPS for the current year.
Visa announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 25th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th will be issued a $0.45 dividend. The ex-dividend date is Thursday, February 9th. This is a positive change from Visa's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 0.79%. Visa's payout ratio is 25.17%.
Visa Profile
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Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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