ETF Managers Group LLC cut its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 302,171 shares of the credit-card processor’s stock after selling 37,719 shares during the quarter. Visa makes up about 1.3% of ETF Managers Group LLC’s portfolio, making the stock its 8th largest position. ETF Managers Group LLC’s holdings in Visa were worth $65,834,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. IMA Wealth Inc. grew its stake in Visa by 4.0% during the fourth quarter. IMA Wealth Inc. now owns 11,062 shares of the credit-card processor’s stock valued at $2,397,000 after acquiring an additional 426 shares in the last quarter. Dillon & Associates Inc. grew its stake in shares of Visa by 2.5% during the fourth quarter. Dillon & Associates Inc. now owns 120,223 shares of the credit-card processor’s stock valued at $26,088,000 after buying an additional 2,958 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Visa by 0.3% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 655,431 shares of the credit-card processor’s stock worth $142,039,000 after purchasing an additional 1,857 shares during the last quarter. Mmbg Investment Advisors CO. bought a new stake in Visa during the 4th quarter valued at approximately $13,915,000. Finally, Aureus Asset Management LLC lifted its holdings in shares of Visa by 6.4% during the fourth quarter. Aureus Asset Management LLC now owns 263,422 shares of the credit-card processor’s stock valued at $57,086,000 after purchasing an additional 15,865 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors and hedge funds.
V has been the topic of several recent analyst reports. Credit Suisse Group lifted their target price on Visa from $260.00 to $265.00 and gave the company an “outperform” rating in a research note on Wednesday, April 27th. Barclays dropped their price objective on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, April 4th. Morgan Stanley raised their target price on shares of Visa from $279.00 to $284.00 in a research report on Wednesday, April 27th. Evercore ISI lifted their price objective on shares of Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Finally, Piper Sandler downgraded shares of Visa from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $283.00 to $239.00 in a research report on Friday, April 29th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $265.88.
V traded up $4.71 on Thursday, reaching $208.55. The company had a trading volume of 9,206,844 shares, compared to its average volume of 8,862,771. The stock has a 50-day moving average price of $211.55 and a 200-day moving average price of $212.32. Visa Inc. has a 1 year low of $186.67 and a 1 year high of $252.67. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $396.51 billion, a PE ratio of 32.84, a P/E/G ratio of 1.68 and a beta of 0.90.
Visa (NYSE:V – Get Rating) last announced its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share 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 had revenue of $7.19 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the business posted $1.38 EPS. The company’s revenue was up 25.5% on a year-over-year basis. As a group, analysts expect that Visa Inc. will post 7.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Thursday, May 12th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is presently 23.58%.
About Visa (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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