Gabelli Funds LLC decreased its holdings in Visa Inc. (NYSE:V – Free Report) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 210,807 shares of the credit-card processor’s stock after selling 800 shares during the period. Gabelli Funds LLC’s holdings in Visa were worth $47,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Visa by 504.9% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 311,267 shares of the credit-card processor’s stock worth $70,178,000 after buying an additional 259,808 shares during the period. Gateway Advisory LLC purchased a new stake in Visa during the 1st quarter valued at approximately $259,000. Orin Green Financial LLC acquired a new stake in Visa during the 1st quarter worth approximately $214,000. Geller Advisors LLC grew its stake in shares of Visa by 2.3% in the 1st quarter. Geller Advisors LLC now owns 7,611 shares of the credit-card processor’s stock valued at $1,716,000 after purchasing an additional 173 shares during the last quarter. Finally, GM Advisory Group Inc. increased its holdings in shares of Visa by 12.4% in the first quarter. GM Advisory Group Inc. now owns 9,920 shares of the credit-card processor’s stock valued at $2,237,000 after purchasing an additional 1,092 shares during the period. Institutional investors and hedge funds own 81.35% of the company’s stock.
Wall Street Analyst Weigh In
V has been the topic of a number of analyst reports. Oppenheimer reiterated an “outperform” rating and issued a $248.00 price objective on shares of Visa in a research report on Monday, July 24th. Susquehanna increased their price target on shares of Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. Jefferies Financial Group raised their price objective on shares of Visa from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, July 19th. StockNews.com assumed coverage on Visa in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Wedbush reissued an “outperform” rating and issued a $270.00 price target on shares of Visa in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $273.77.
Visa Price Performance
Shares of Visa stock traded up $0.23 during trading on Friday, hitting $247.37. 450,613 shares of the company were exchanged, compared to its average volume of 5,963,495. Visa Inc. has a fifty-two week low of $174.60 and a fifty-two week high of $248.87. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $240.79 and a 200 day moving average price of $231.17. The stock has a market capitalization of $460.56 billion, a price-to-earnings ratio of 31.36, a P/E/G ratio of 1.85 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The credit-card processor reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.05. The company had revenue of $8.12 billion during the quarter, compared to analysts’ expectations of $8.06 billion. Visa had a return on equity of 49.42% and a net margin of 51.94%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.98 earnings per share. On average, equities analysts expect that Visa Inc. will post 8.65 earnings per share for the current fiscal year.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Friday, August 11th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is presently 22.84%.
In other Visa news, insider Rajat Taneja sold 2,300 shares of the business’s stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total value of $552,000.00. Following the completion of the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Ryan Mcinerney sold 24,025 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $240.00, for a total value of $5,766,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Rajat Taneja sold 2,300 shares of the stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $240.00, for a total transaction of $552,000.00. Following the transaction, the insider now directly owns 232,112 shares in the company, valued at approximately $55,706,880. The disclosure for this sale can be found here. Insiders sold a total of 65,750 shares of company stock valued at $15,845,648 over the last 90 days. Insiders own 0.22% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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.
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