Arkfeld Wealth Strategies L.L.C. bought a new position in Visa Inc (NYSE:V) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,142 shares of the credit-card processor’s stock, valued at approximately $221,000.
Several other hedge funds and other institutional investors also recently modified their holdings of V. Advisor Group Holdings Inc. bought a new position in shares of Visa during the 1st quarter worth approximately $102,656,000. Lone Pine Capital LLC acquired a new position in Visa during the first quarter worth approximately $536,526,000. Invesco Ltd. increased its position in Visa by 17.4% during the first quarter. Invesco Ltd. now owns 9,034,998 shares of the credit-card processor’s stock worth $1,455,717,000 after buying an additional 1,335,945 shares during the last quarter. Swiss National Bank increased its position in Visa by 20.4% during the first quarter. Swiss National Bank now owns 7,386,394 shares of the credit-card processor’s stock worth $1,190,096,000 after buying an additional 1,250,400 shares during the last quarter. Finally, Capital International Investors grew its position in shares of Visa by 6.1% in the first quarter. Capital International Investors now owns 21,881,462 shares of the credit-card processor’s stock valued at $3,525,557,000 after purchasing an additional 1,250,002 shares during the last quarter. 81.41% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE V traded up $2.67 during midday trading on Thursday, hitting $198.77. 7,472,464 shares of the company traded hands, compared to its average volume of 10,946,247. Visa Inc has a 12-month low of $133.93 and a 12-month high of $214.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.25 and a current ratio of 1.55. The stock has a 50-day moving average price of $193.98 and a 200 day moving average price of $187.01. The firm has a market cap of $379.24 billion, a P/E ratio of 37.86, a P/E/G ratio of 2.93 and a beta of 0.88.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 14th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, August 13th. This represents a $1.20 annualized dividend and a yield of 0.60%. Visa’s dividend payout ratio (DPR) is currently 22.06%.
In related news, President Ryan Mcinerney sold 26,150 shares of Visa stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $191.49, for a total transaction of $1,340,430.00. Following the transaction, the chief executive officer now directly owns 133,090 shares in the company, valued at approximately $25,485,404.10. The disclosure for this sale can be found here. Insiders have sold 51,979 shares of company stock valued at $10,045,346 in the last quarter. 0.19% of the stock is owned by company insiders.
Several research firms have recently commented on V. Nomura Securities decreased their target price on Visa from $233.00 to $214.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. UBS Group cut their price target on Visa from $190.00 to $188.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Raymond James boosted their price target on Visa from $204.00 to $217.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Piper Sandler boosted their price target on Visa from $200.00 to $206.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Wedbush boosted their price target on Visa from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Seven equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $208.48.
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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