Augustine Asset Management Inc. reduced its stake in Visa Inc. (NYSE:V – Free Report) by 11.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,145 shares of the credit-card processor’s stock after selling 288 shares during the period. Augustine Asset Management Inc.’s holdings in Visa were worth $558,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in V. Moneta Group Investment Advisors LLC boosted its holdings in shares of Visa by 116,608.6% in 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 acquiring an additional 24,483,134 shares during the period. Norges Bank bought a new position in shares of Visa in the fourth quarter worth $3,067,232,000. Morgan Stanley boosted its holdings in shares of Visa by 13.0% in the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after acquiring an additional 5,864,340 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Visa by 17,418.7% in the fourth quarter. International Assets Investment Management LLC now owns 4,737,229 shares of the credit-card processor’s stock worth $1,233,338,000 after acquiring an additional 4,710,188 shares during the period. Finally, State Street Corp boosted its holdings in shares of Visa by 3.7% in the first quarter. State Street Corp now owns 72,897,112 shares of the credit-card processor’s stock worth $16,435,339,000 after acquiring an additional 2,572,159 shares during the period. 82.15% of the stock is owned by institutional investors.
Visa Stock Up 1.1 %
Shares of V opened at $277.14 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $508.97 billion, a P/E ratio of 31.89, a P/E/G ratio of 1.91 and a beta of 0.96. The stock has a 50 day simple moving average of $280.08 and a two-hundred day simple moving average of $260.26. Visa Inc. has a 1 year low of $216.14 and a 1 year high of $290.96.
Visa (NYSE:V – Get Free Report) last announced its earnings results on Thursday, January 25th. The credit-card processor reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.07. The company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $8.55 billion. Visa had a return on equity of 50.02% and a net margin of 53.92%. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.18 earnings per share. On average, analysts forecast that Visa Inc. will post 9.89 earnings per share for the current fiscal year.
Visa Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio is presently 23.94%.
Analyst Upgrades and Downgrades
V has been the subject of a number of analyst reports. Barclays raised their price target on Visa from $304.00 to $319.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Redburn Atlantic restated a “neutral” rating and issued a $307.00 target price on shares of Visa in a research note on Wednesday, March 27th. Mizuho reiterated a “neutral” rating and set a $265.00 price target on shares of Visa in a research report on Wednesday, March 27th. Susquehanna boosted their price objective on Visa from $300.00 to $326.00 and gave the stock a “positive” rating in a report on Friday, January 26th. Finally, Royal Bank of Canada boosted their price objective on Visa from $290.00 to $309.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $295.82.
Read Our Latest Research Report on Visa
Insider Activity at Visa
In other Visa news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $62,716,662.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Visa news, insider Rajat Taneja sold 36,546 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $270.20, for a total value of $9,874,729.20. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at $62,716,662.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $150,833.68. The disclosure for this sale can be found here. Insiders sold a total of 55,511 shares of company stock worth $15,131,081 over the last quarter. 0.19% of the stock is owned by corporate insiders.
Visa Profile
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.
Featured Articles
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).
Receive News & Ratings for Visa Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Visa and related companies with MarketBeat.com’s FREE daily email newsletter.