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Bard Financial Services Inc. raised its position in Visa Inc. (NYSE:V – Get Rating) by 2.1% in the first quarter, HoldingsChannel.com reports. The fund owned 12,080 shares of the credit-card processor’s stock after purchasing an additional 250 shares during the quarter. Bard Financial Services Inc.’s holdings in Visa were worth $2,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Visa by 1.9% during the 4th quarter. BlackRock Inc. now owns 129,031,301 shares of the credit-card processor’s stock worth $27,962,374,000 after buying an additional 2,440,030 shares during the last quarter. State Street Corp lifted its stake in shares of Visa by 2.1% during the 4th quarter. State Street Corp now owns 74,542,114 shares of the credit-card processor’s stock worth $16,154,022,000 after buying an additional 1,504,897 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Visa by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 29,682,215 shares of the credit-card processor’s stock worth $6,416,486,000 after buying an additional 827,137 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Visa by 11.5% during the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after buying an additional 2,659,845 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Visa by 1.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 24,368,049 shares of the credit-card processor’s stock worth $5,280,800,000 after buying an additional 320,042 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.
V stock opened at $205.51 on Friday. The firm has a market cap of $390.73 billion, a P/E ratio of 32.31, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $204.67 and its two-hundred day moving average price is $212.20. Visa Inc. has a 12 month low of $185.91 and a 12 month high of $252.67.
Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. The company had revenue of $7.19 billion for the quarter, compared to analyst estimates of $6.82 billion. Visa had a net margin of 51.10% and a return on equity of 42.89%. The firm’s revenue was up 25.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. Equities analysts predict that Visa Inc. will post 7.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, May 13th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Thursday, May 12th. Visa’s dividend payout ratio (DPR) is presently 23.58%.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of $223.91, for a total transaction of $2,015,190.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Ryan Mcinerney sold 6,467 shares of Visa stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $223.65, for a total transaction of $1,446,344.55. The disclosure for this sale can be found here. Insiders have sold a total of 39,933 shares of company stock worth $8,745,055 over the last ninety days. 0.21% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on V shares. Morgan Stanley raised their target price on shares of Visa from $279.00 to $284.00 in a research note on Wednesday, April 27th. Citigroup cut their target price on shares of Visa from $285.00 to $265.00 in a research note on Monday, April 25th. Credit Suisse Group raised their target price on shares of Visa from $260.00 to $265.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 27th. Evercore ISI raised their price target on shares of Visa from $304.00 to $310.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 27th. Finally, Piper Sandler lowered shares of Visa from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $283.00 to $239.00 in a research report on Friday, April 29th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.44.
Visa Company Profile (Get Rating)
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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Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Get Rating).
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