C WorldWide Group Holding A S cut its holdings in shares of Visa Inc (NYSE:V) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,992,530 shares of the credit-card processor’s stock after selling 757,612 shares during the period. Visa comprises approximately 13.1% of C WorldWide Group Holding A S’s portfolio, making the stock its largest position. C WorldWide Group Holding A S owned 0.30% of Visa worth $1,030,776,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Krane Funds Advisors LLC bought a new stake in shares of Visa in the 2nd quarter worth $26,000. Lowe Wealth Advisors LLC lifted its holdings in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 86 shares during the last quarter. Personal Wealth Partners purchased a new stake in Visa during the second quarter valued at about $30,000. Mcmillion Capital Management Inc. purchased a new stake in Visa during the second quarter valued at about $38,000. Finally, Hexavest Inc. purchased a new stake in Visa during the second quarter valued at about $40,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
In other news, insider Vasant M. Prabhu sold 25,051 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the completion of the transaction, the insider now directly owns 62,223 shares in the company, valued at $11,271,074.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total value of $1,244,530.00. Following the transaction, the chief executive officer now owns 55,446 shares of the company’s stock, valued at $9,857,744.34. The disclosure for this sale can be found here. Insiders have sold 53,215 shares of company stock valued at $9,564,487 over the last 90 days. Corporate insiders own 0.17% of the company’s stock.
Several research analysts recently weighed in on the stock. Guggenheim set a $194.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Friday, October 25th. Raymond James raised their target price on shares of Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Barclays raised their target price on shares of Visa from $181.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Wedbush set a $187.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Jefferies Financial Group set a $210.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $199.04.
Visa stock traded up $0.54 on Friday, hitting $178.97. 3,893,051 shares of the stock traded hands, compared to its average volume of 7,614,820. The company has a current ratio of 1.56, a quick ratio of 1.69 and a debt-to-equity ratio of 0.57. The firm has a market cap of $349.90 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94. The business’s fifty day simple moving average is $176.18 and its 200 day simple moving average is $173.34. Visa Inc has a 1 year low of $121.60 and a 1 year high of $187.05.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period last year, the company earned $1.21 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that Visa Inc will post 6.21 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. Visa’s payout ratio is presently 18.38%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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