Channing Global Advisors LLC acquired a new stake in Visa Inc. (NYSE: V – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,957 shares of the credit-card processor’s stock, valued at approximately $ 3,458,000. Visa makes up approximately 3.3% of Channing Global Advisors LLC’s investment portfolio, making its stock its 12th largest holding.
A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $ 16,154,022,000 after purchasing an additional 1,504,897 shares during the last quarter. Morgan Stanley increased its holdings in Visa by 1.3% during the 2nd quarter. Morgan Stanley now owns 41,708,994 shares of the credit-card processor’s stock worth $ 9,752,396,000 after purchasing an additional 533,415 shares during the last quarter. Geode Capital Management LLC increased its holdings in Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $ 6,416,486,000 after purchasing an additional 827,137 shares during the last quarter. Alliancebernstein LP increased its holdings in Visa by 11.5% during the 4th quarter. Alliancebernstein LP now owns 25,850,411 shares of the credit-card processor’s stock worth $ 5,602,043,000 after purchasing an additional 2,659,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock worth $ 5,280,800,000 after purchasing an additional 320,042 shares during the last quarter. 80.77% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $ 218.62, for a total value of $ 1,967,580.00. Following the completion of the sale, the chief executive officer now owns 165,887 shares in the company, valued at approximately $ 36,266,215.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Mcinerney sold 6,466 shares of the firm’s stock in a transaction that occurred on Monday, March 28th. The stock was sold at an average price of $ 220.00, for a total value of $ 1,422,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 39,933 shares of company stock valued at $ 8,745,055. 0.21% of the stock is owned by corporate insiders.
A number of equities research analysts have recently weighed in on the company. Cowen lowered their price target on Visa from $ 276.00 to $ 254.00 and set an “outperform” rating for the company in a report on Wednesday, April 27th. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $ 283.00 to $ 239.00 in a report on Friday, April 29th. The Goldman Sachs Group began coverage on Visa in a research note on Tuesday, May 17th. They set a “buy” rating and a $ 282.00 price objective for the company. Cowen lowered their price objective on Visa from $ 276.00 to $ 254.00 in a research note on Wednesday, April 27th. Finally, Credit Suisse Group upped their price target on Visa from $ 260.00 to $ 265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Visa presently has a consensus rating of “Buy” and an average target price of $ 267.44.
Shares of V stock opened at $ 196.16 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Visa Inc. has a fifty-two week low of $ 186.67 and a fifty-two week high of $ 252.67. The stock’s 50-day moving average is $ 207.45 and its two-hundred day moving average is $ 212.36. The firm has a market cap of $ 372.95 billion, a P / E ratio of 30.84, a PEG ratio of 1.70 and a beta of 0.90.
Visa (NYSE: V – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The credit-card processor reported $ 1.79 EPS for the quarter, beating analysts’ consensus estimates of $ 1.65 by $ 0.14. The business had revenue of $ 7.19 billion for the quarter, compared to analyst estimates of $ 6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The firm’s revenue for the quarter was up 25.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $ 1.38 EPS. As a group, research analysts expect that Visa Inc. will post 7.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were paid a dividend of $ 0.375 per share. The ex-dividend date was Thursday, May 12th. This represents a $ 1.50 annualized dividend and a yield of 0.76%. Visa’s payout ratio is 23.58%.
Visa Profile: (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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