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Gemmer Asset Management LLC grew its position in shares of Visa Inc. (NYSE:V – Get Rating) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,807 shares of the credit-card processor’s stock after buying an additional 1,251 shares during the quarter. Visa accounts for 1.2% of Gemmer Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Gemmer Asset Management LLC’s holdings in Visa were worth $9,493,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Outfitter Financial LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $27,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $32,000. Rise Advisors LLC acquired a new position in shares of Visa during the 4th quarter worth approximately $35,000. Disciplined Investments LLC raised its position in shares of Visa by 500.0% during the 4th quarter. Disciplined Investments LLC now owns 168 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 140 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. raised its position in shares of Visa by 50.0% during the 4th quarter. Stuart Chaussee & Associates Inc. now owns 168 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 80.77% of the company’s stock.
Shares of Visa stock opened at $199.18 on Friday. The company has a fifty day moving average price of $203.19 and a 200 day moving average price of $211.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. Visa Inc. has a twelve month low of $185.91 and a twelve month high of $252.67. The stock has a market cap of $378.70 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.90.
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 for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the prior year, the company earned $1.38 EPS. The firm’s revenue was up 25.5% on a year-over-year basis. Analysts forecast that Visa Inc. will post 7.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th were given a $0.375 dividend. The ex-dividend date was Thursday, May 12th. This represents a $1.50 dividend on an annualized basis and a yield of 0.75%. Visa’s payout ratio is currently 23.58%.
Several research analysts recently issued reports on V shares. The Goldman Sachs Group initiated coverage on Visa in a research report on Tuesday, May 17th. They set a “buy” rating and a $282.00 price objective for the company. Mizuho cut their price target on Visa from $235.00 to $215.00 and set a “neutral” rating for the company in a report on Friday. Credit Suisse Group boosted their price target on Visa from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday, April 27th. Piper Sandler downgraded Visa from an “overweight” rating to a “neutral” rating and cut their price target for the company from $283.00 to $239.00 in a report on Friday, April 29th. Finally, Barclays cut their price target on Visa from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Monday, April 4th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $266.24.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $210.38, for a total value of $1,893,420.00. Following the completion of the transaction, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at approximately $34,268,167.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders sold 27,000 shares of company stock valued at $5,619,330. 0.21% of the stock is currently owned by corporate insiders.
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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