Orion Portfolio Solutions LLC cut its holdings in Visa Inc. (NYSE:V – Free Report) by 6.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 174,886 shares of the credit-card processor’s stock after selling 11,533 shares during the period. Orion Portfolio Solutions LLC’s holdings in Visa were worth $48,085,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Visa by 45,189.4% in the third quarter. International Assets Investment Management LLC now owns 9,758,505 shares of the credit-card processor’s stock valued at $2,683,101,000 after buying an additional 9,736,958 shares in the last quarter. SG Americas Securities LLC grew its position in Visa by 4,412.3% during the third quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares in the last quarter. State Street Corp increased its stake in Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after acquiring an additional 3,327,977 shares during the period. FMR LLC lifted its position in shares of Visa by 6.1% during the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after acquiring an additional 3,265,518 shares during the period. Finally, Wulff Hansen & CO. grew its holdings in shares of Visa by 26,951.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock worth $416,788,000 after purchasing an additional 1,582,074 shares in the last quarter. 82.15% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by insiders.
Visa Stock Performance
Visa (NYSE:V – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.13. The company had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 earnings per share. As a group, research analysts forecast that Visa Inc. will post 11.19 earnings per share for the current year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were given a dividend of $0.59 per share. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. Visa’s dividend payout ratio is presently 24.25%.
Wall Street Analysts Forecast Growth
V has been the subject of several recent analyst reports. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective for the company in a research report on Tuesday, September 3rd. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. BMO Capital Markets lifted their price objective on shares of Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group restated a “buy” rating and set a $317.00 target price on shares of Visa in a research note on Thursday, September 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Visa from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $321.74.
Read Our Latest Stock Report on Visa
Visa Profile
Visa Inc operates as a payment technology company in the United States and internationally. 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, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; 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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