Absolute Capital Management LLC Makes New $404,000 Investment in Visa Inc. (NYSE:V)

Absolute Capital Management LLC bought a new position in Visa Inc. (NYSE:VFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,448 shares of the credit-card processor’s stock, valued at approximately $404,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors lifted its stake in shares of Visa by 2.7% in the fourth quarter. Capital International Investors now owns 22,943,773 shares of the credit-card processor’s stock worth $5,973,432,000 after buying an additional 596,950 shares during the last quarter. Capital World Investors lifted its stake in shares of Visa by 8.0% in 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 buying an additional 1,323,238 shares during the last quarter. Norges Bank acquired a new stake in shares of Visa in the fourth quarter worth $3,895,015,000. Jennison Associates LLC lifted its stake in shares of Visa by 0.7% in the fourth quarter. Jennison Associates LLC now owns 11,824,113 shares of the credit-card processor’s stock worth $3,078,408,000 after buying an additional 85,123 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Visa by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,524,329 shares of the credit-card processor’s stock worth $2,725,079,000 after buying an additional 141,566 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Visa Price Performance

Shares of V traded down $4.60 during trading hours on Wednesday, hitting $260.84. The stock had a trading volume of 1,843,755 shares, compared to its average volume of 6,796,328. The company’s fifty day moving average is $273.07 and its two-hundred day moving average is $274.01. 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 52 week low of $227.68 and a 52 week high of $290.96. The stock has a market capitalization of $477.06 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 1.82 and a beta of 0.95.

Visa (NYSE:VGet Free Report) last posted its earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The business had revenue of $8.78 billion for the quarter, compared to analyst estimates of $8.62 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Friday, May 17th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is currently 23.24%.

Insiders Place Their Bets

In other Visa news, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Visa 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 sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 909 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $275.55, for a total transaction of $250,474.95. Following the sale, the director now directly owns 2,591 shares in the company, valued at approximately $713,950.05. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Citigroup upped their target price on shares of Visa from $314.00 to $321.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer upped their target price on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. William Blair reiterated an “outperform” rating on shares of Visa in a research note on Wednesday, April 24th. Finally, Wedbush upped their target price on shares of Visa from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Six equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $304.44.

View Our Latest Analysis on V

Visa Profile

(Free Report)

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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