Proffitt & Goodson Inc. lifted its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 462 shares of the credit-card processor’s stock after buying an additional 95 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Visa were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of V. Norges Bank bought a new stake in Visa during the fourth quarter worth about $2,740,577,000. Lone Pine Capital LLC bought a new stake in Visa during the fourth quarter worth about $1,047,495,000. GQG Partners LLC boosted its stake in Visa by 46.2% during the fourth quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock worth $2,446,122,000 after acquiring an additional 3,567,771 shares in the last quarter. Bank of Montreal Can boosted its stake in Visa by 51.2% during the fourth quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit-card processor’s stock worth $2,090,120,000 after acquiring an additional 3,179,759 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Visa by 11.5% during the fourth quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock worth $5,602,043,000 after acquiring an additional 2,659,845 shares in the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Visa from $292.00 to $296.00 and gave the stock a “buy” rating in a research note on Wednesday, July 27th. Piper Sandler dropped their target price on shares of Visa from $239.00 to $204.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Citigroup dropped their target price on shares of Visa from $270.00 to $254.00 in a research note on Tuesday, July 26th. Truist Financial lowered their price objective on shares of Visa from $275.00 to $250.00 in a research report on Thursday, June 30th. Finally, Credit Suisse Group increased their price objective on shares of Visa from $260.00 to $265.00 and gave the company an “outperform” rating in a research report on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.64.
Visa Trading Up 1.1 %
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 12th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, August 11th. Visa’s payout ratio is currently 22.12%.
Insider Transactions at Visa
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $195.37, for a total value of $1,758,330.00. Following the completion of the sale, the chief executive officer now directly owns 159,887 shares in the company, valued at approximately $31,237,123.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 27,000 shares of company stock valued at $5,560,740 in the last 90 days. Insiders own 0.21% of the company’s stock.
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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