Crestmont Private Wealth LLC lifted its stake in Visa Inc. (NYSE:V – Free Report) by 27.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,944 shares of the credit-card processor’s stock after buying an additional 417 shares during the period. Visa makes up 0.3% of Crestmont Private Wealth LLC’s investment portfolio, making the stock its 18th largest holding. Crestmont Private Wealth LLC’s holdings in Visa were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital International Investors grew its stake in shares of Visa by 2.7% in the 4th quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock valued at $5,973,432,000 after purchasing an additional 596,950 shares during the last quarter. Capital World Investors raised its stake in shares of Visa by 8.0% during the fourth quarter. Capital World Investors now owns 17,895,788 shares of the credit-card processor’s stock worth $4,659,169,000 after purchasing an additional 1,323,238 shares during the last quarter. Norges Bank purchased a new position in Visa in the 4th quarter valued at $3,895,015,000. Ameriprise Financial Inc. grew its position in Visa by 2.7% in the 3rd quarter. Ameriprise Financial Inc. now owns 14,229,004 shares of the credit-card processor’s stock valued at $3,272,846,000 after buying an additional 374,489 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Visa by 0.7% in the 4th quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock valued at $3,078,408,000 after buying an additional 85,123 shares during the period. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Stock Performance
Visa stock opened at $275.22 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.40 and a quick ratio of 1.40. Visa Inc. has a 12 month low of $225.50 and a 12 month high of $290.96. The company has a market cap of $503.36 billion, a price-to-earnings ratio of 30.75, a price-to-earnings-growth ratio of 1.89 and a beta of 0.97. The stock’s 50-day moving average is $273.97 and its 200-day moving average is $273.14.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 16th. Visa’s dividend payout ratio (DPR) is presently 23.24%.
Insider Transactions at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,200 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now directly owns 538 shares of the company’s stock, valued at approximately $150,833.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,200 shares of Visa stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $280.36, for a total value of $2,298,952.00. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $150,833.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,402 shares of company stock valued at $9,559,382. Corporate insiders own 0.19% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on V shares. Piper Sandler initiated coverage on shares of Visa in a research note on Monday, May 13th. They issued an “overweight” rating and a $322.00 target price for the company. Redburn Atlantic reaffirmed a “neutral” rating and issued a $307.00 price objective on shares of Visa in a report on Wednesday, March 27th. TD Cowen initiated coverage on Visa in a research note on Thursday, April 11th. They set a “buy” rating and a $320.00 target price for the company. Wells Fargo & Company lifted their price target on Visa from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Robert W. Baird increased their price objective on Visa from $314.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Five investment 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 currently has an average rating of “Moderate Buy” and a consensus price target of $303.76.
Check Out Our Latest Analysis on V
About Visa
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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