State of Wyoming Has $2.70 Million Stock Holdings in Visa Inc. (NYSE:V)

State of Wyoming grew its position in shares of Visa Inc. (NYSE:V) by 99.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,529 shares of the credit-card processor’s stock after purchasing an additional 4,249 shares during the quarter. Visa makes up 0.3% of State of Wyoming’s holdings, making the stock its 22nd biggest holding. State of Wyoming’s holdings in Visa were worth $2,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in V. Norges Bank acquired a new position in shares of Visa in the fourth quarter worth approximately $5,171,271,000. Vanguard Group Inc. lifted its stake in shares of Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock worth $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Visa in the fourth quarter worth approximately $1,955,403,000. Proficio Capital Partners LLC lifted its stake in shares of Visa by 17,018.7% in the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock worth $1,248,079,000 after acquiring an additional 3,926,049 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Visa by 18.0% in the fourth quarter. Northern Trust Corp now owns 18,260,714 shares of the credit-card processor’s stock worth $5,771,116,000 after acquiring an additional 2,785,707 shares during the period. 82.15% of the stock is owned by institutional investors and hedge funds.

Visa Trading Up 0.8%

NYSE V opened at $365.23 on Friday. The business has a 50 day moving average price of $338.59 and a 200-day moving average price of $329.61. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $366.54. The company has a market cap of $673.90 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 2.33 and a beta of 0.96. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.45.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.08. Visa had a return on equity of 54.79% and a net margin of 54.27%. The business had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. During the same quarter in the prior year, the company posted $2.51 earnings per share. Visa’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Tuesday, May 13th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $2.36 annualized dividend and a yield of 0.65%. Visa’s dividend payout ratio (DPR) is currently 23.72%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total value of $3,020,792.80. Following the transaction, the chief executive officer now owns 537 shares of the company’s stock, valued at approximately $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 39,350 shares of the business’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $327.20, for a total value of $12,875,320.00. Following the completion of the transaction, the insider now directly owns 26,413 shares in the company, valued at approximately $8,642,333.60. This represents a 59.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,948 shares of company stock valued at $41,548,282. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Piper Sandler lifted their price objective on Visa from $383.00 to $384.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 30th. Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group cut their price objective on Visa from $400.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Visa in a report on Thursday, February 13th. Finally, BMO Capital Markets lifted their target price on Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Six analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $362.38.

About Visa

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.