Cetera Advisor Networks LLC increased its position in shares of Visa Inc. (NYSE:V – Free Report) by 5.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,903 shares of the credit-card processor’s stock after purchasing an additional 16,295 shares during the period. Cetera Advisor Networks LLC’s holdings in Visa were worth $72,646,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Visa by 107,990.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock worth $474,634,314,000 after acquiring an additional 1,996,779,546 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Visa by 116,608.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after purchasing an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new stake in Visa during the fourth quarter worth approximately $3,067,232,000. Morgan Stanley raised its holdings in Visa by 13.0% during the fourth quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after purchasing an additional 5,864,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Visa by 130.4% during the first quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after purchasing an additional 3,986,135 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
Visa Stock Performance
Shares of V opened at $246.61 on Wednesday. The business’s fifty day moving average price is $238.32 and its 200 day moving average price is $235.83. Visa Inc. has a 12-month low of $202.13 and a 12-month high of $250.06. The stock has a market capitalization of $459.15 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 1.63 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.45 and a quick ratio of 1.49.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Thursday, November 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.84%. This is a positive change from Visa’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Wednesday, November 8th. Visa’s dividend payout ratio (DPR) is 25.09%.
In other news, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $247.47, for a total transaction of $2,016,880.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the completion of the transaction, the chairman now owns 139,854 shares of the company’s stock, valued at $33,025,123.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Mcinerney sold 8,150 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $247.47, for a total value of $2,016,880.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,100 shares of company stock valued at $17,368,639. Company insiders own 0.21% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Visa from $270.00 to $275.00 in a research report on Wednesday, July 26th. Raymond James boosted their price objective on shares of Visa from $284.00 to $287.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 25th. Susquehanna boosted their price objective on shares of Visa from $266.00 to $300.00 in a research report on Wednesday, July 26th. Bank of America boosted their target price on shares of Visa from $270.00 to $275.00 in a research note on Tuesday, July 18th. Finally, Barclays cut their target price on shares of Visa from $285.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $275.67.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. 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, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; 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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