Regent Peak Wealth Advisors LLC increased its stake in Visa Inc. (NYSE:V – Get a rating) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The fund held 5,088 shares of the credit card processor after acquiring 59 additional shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Visa were worth $1,128,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently changed their stakes in the company. Norges Bank bought a new position in Visa shares during Q4, valued at approximately $2,740,577,000. Lone Pine Capital LLC purchased a new position in Visa stock during Q4, valued at approximately $1,047,495,000. GQG Partners LLC increased its stake in Visa shares by 46.2% during the 4th quarter. GQG Partners LLC now owns 11,289,146 shares of the credit card processor valued at $2,446,122,000 after buying an additional 3,567,771 shares last quarter. Bank of Montreal Can increased its holding in Visa shares by 51.2% during the 4th quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit card processor valued at $2,090,120,000 after buying an additional 3,179,759 shares last quarter. Finally, Brown Advisory Inc. increased its stake in Visa shares by 51.7% during the 4th quarter. Brown Advisory Inc. now owns 9,232,310 shares of the credit card processor valued at $2,000,734,000 after buying 3,145,363 additional shares last quarter. Hedge funds and other institutional investors hold 80.77% of the company’s shares.
Visa Trading down 1.2%
NYSE-V opened at $213.70 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a leverage ratio of 0.53. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $252.67. The company has a market capitalization of $406.30 billion, a PE ratio of 33.60, a P/E/G ratio of 1.84 and a beta of 0.90. The stock’s 50-day moving average is $203.66 and its 200-day moving average is $210.65.
Visa (NYSE:V – Get a rating) last released its quarterly results on Tuesday, April 26. The credit card processor reported earnings per share of $1.79 for the quarter, beating the consensus estimate of $1.65 by $0.14. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company posted revenue of $7.19 billion for the quarter, versus analyst estimates of $6.82 billion. During the same period a year earlier, the company posted earnings per share of $1.38. The company’s revenue increased 25.5% year over year. Research analysts expect Visa Inc. to post earnings per share of 7.17 for the current fiscal year.
Visa announces dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1. Investors of record on Friday, May 13 received a dividend of $0.375 per share. The ex-dividend date was Thursday, May 12. This represents an annualized dividend of $1.50 and a dividend yield of 0.70%. Visa’s dividend payout ratio is currently 23.58%.
Insider activity at Visa
In other news from Visa, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company in a trade on Tuesday, May 31. The stock was sold at an average price of $210.38, for a total value of $1,893,420.00. As a result of the sale, the CEO now directly owns 162,887 shares of the company, valued at $34,268,167.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. Insiders sold 27,000 shares of the company worth $5,619,330 in the past ninety days. 0.21% of the shares are held by insiders.
Analyst upgrades and downgrades
A number of equity analysts have weighed in on V shares recently. Barclays lowered its price target on Visa from $265.00 to $260.00 and set an “overweight” rating on the stock in a report. Monday, April 4. Wolfe Research reduced its price target on Visa from $285.00 to $260.00 in a Wednesday, July 20 research note. Morgan Stanley reaffirmed a “buy” rating on Visa shares in a Friday, July 15 research note. Cowen cut his price target on Visa from $276.00 to $254.00 and set an “outperform” rating on the stock in a Wednesday, April 27 research note. Finally, Credit Suisse Group raised its price target on Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a Wednesday, April 27 research note. Four analysts gave the stock a hold rating and twenty-one gave the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “moderate buy” and a consensus target price of $262.00.
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
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