Community Financial Services Group LLC raised its stake in Visa Inc. (NYSE: V – Get Rating) by 57.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,026 shares of the credit-card processor’s stock after purchasing an additional 13,883 shares during the period. Visa accounts for about 2.1% of Community Financial Services Group LLC’s holdings, making the stock its 17th biggest position. Community Financial Services Group LLC’s holdings in Visa were worth $ 8,241,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Visa by 1.9% during the fourth quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock worth $ 27,962,374,000 after acquiring an additional 2,440,030 shares during the last quarter. State Street Corp grew its position in shares of Visa by 2.1% during the fourth quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $ 16,154,022,000 after acquiring an additional 1,504,897 shares during the last quarter. Morgan Stanley grew its position in shares of Visa by 1.3% during the second quarter. Morgan Stanley now owns 41,708,994 shares of the credit-card processor’s stock worth $ 9,752,396,000 after acquiring an additional 533,415 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Visa by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $ 6,416,486,000 after acquiring an additional 827,137 shares during the last quarter. Finally, Alliancebernstein LP grew its position in shares of Visa by 11.5% during the fourth quarter. Alliancebernstein LP now owns 25,850,411 shares of the credit-card processor’s stock worth $ 5,602,043,000 after acquiring an additional 2,659,845 shares during the last quarter. Institutional investors own 80.77% of the company stock.
NYSE: V opened at $ 190.01 on Friday. The company has a market capitalization of $ 361.26 billion, a PE ratio of 29.88, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Visa Inc. has a 52-week low of $ 185.91 and a 52-week high of $ 252.67. The stock has a fifty day simple moving average of $ 206.37 and a 200-day simple moving average of $ 212.28.
Visa (NYSE: V – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $ 1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 1.65 by $ 0.14. The business had revenue of $ 7.19 billion during the quarter, compared to the estimate consensus of $ 6.82 billion. Visa had a return on equity of 42.89% and a net margin of 51.10%. The business’s revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $ 1.38 EPS. As a group, equities analysts anticipate that Visa Inc. will post 7.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Friday, May 13th were paid a dividend of $ 0.375 per share. This represents a $ 1.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.58%.
A number of equities analysts have recently issued reports on V shares. Cowen lowered their target price on shares of Visa from $ 276.00 to $ 254.00 in a research report on Wednesday, April 27th. Evercore ISI raised their target price 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. Morgan Stanley lifted their price objective on shares of Visa from $ 279.00 to $ 284.00 in a research report on Wednesday, April 27th. Piper Sandler lowered shares of Visa from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $ 283.00 to $ 239.00 in a research report on Friday, April 29th. Finally, StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday, April 28th. 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 MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $ 267.44.
In related news, President Ryan Mcinerney sold 6,467 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $ 223.65, for a total value of $ 1,446,344.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $ 210.38, for a total value of $ 1,893,420.00. Following the completion of the sale, the chief executive officer now owns 162,887 shares of the company stock, valued at approximately $ 34,268,167.06. The disclosure for this sale can be found here. Insiders sold a total of 39,933 shares of company stock valued at $ 8,745,055 in the last three months. 0.21% of the stock is currently owned by corporate insiders.
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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