MJP Associates Inc. ADV lowered its holdings in Visa Inc. (NYSE:V – Get Rating) by 2.6% during the second quarter, Holdings Channel reports. The fund owned 3,559 shares of the credit-card processor’s stock after selling 95 shares during the quarter. MJP Associates Inc. ADV’s holdings in Visa were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently made changes to their positions in V. Norges Bank acquired a new stake in shares of Visa in the fourth quarter worth $2,740,577,000. Wellington Management Group LLP boosted its holdings in Visa by 33.1% during the first quarter. Wellington Management Group LLP now owns 22,222,170 shares of the credit-card processor’s stock worth $4,928,211,000 after buying an additional 5,527,427 shares in the last quarter. Lone Pine Capital LLC purchased a new stake in Visa during the fourth quarter worth $1,047,495,000. GQG Partners LLC boosted its holdings in Visa by 46.2% during the fourth quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock worth $2,446,122,000 after buying an additional 3,567,771 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Visa by 40.0% during the first quarter. Invesco Ltd. now owns 9,910,380 shares of the credit-card processor’s stock worth $2,197,824,000 after buying an additional 2,830,580 shares in the last quarter. Institutional investors and hedge funds own 81.49% of the company’s stock.
Insider Buying and Selling
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $212.11, for a total transaction of $1,908,990.00. Following the completion of the sale, the chief executive officer now directly owns 156,887 shares in the company, valued at $33,277,301.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. Wolfe Research lowered their price target on shares of Visa from $285.00 to $260.00 in a report on Wednesday, July 20th. Citigroup lowered their price target on shares of Visa from $270.00 to $254.00 in a report on Tuesday, July 26th. Truist Financial lowered their price target on shares of Visa from $275.00 to $250.00 in a report on Thursday, June 30th. Royal Bank of Canada decreased their price objective on shares of Visa from $278.00 to $262.00 in a report on Wednesday, July 27th. Finally, Macquarie decreased their price objective on shares of Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.64.
Visa Price Performance
Visa stock opened at $193.30 on Monday. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $236.96. The stock has a market cap of $365.42 billion, a P/E ratio of 28.51, a PEG ratio of 1.56 and a beta of 0.90. The company has a 50-day moving average price of $207.53 and a 200 day moving average price of $207.32. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.63.
Visa Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 12th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Thursday, August 11th. Visa’s payout ratio is currently 22.12%.
Visa Profile
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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