Williams Jones Wealth Management LLC. trimmed its stake in Visa Inc. (NYSE:V – Get Rating) by 1.6% during the first quarter, Holdings Channel reports. The fund owned 1,164,405 shares of the credit-card processor’s stock after selling 18,894 shares during the period. Visa makes up approximately 3.6% of Williams Jones Wealth Management LLC.’s portfolio, making the stock its 3rd largest position. Williams Jones Wealth Management LLC.’s holdings in Visa were worth $258,230,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in V. Landmark Wealth Management LLC purchased a new stake in shares of Visa during the 1st quarter valued at approximately $32,000. Rise Advisors LLC purchased a new stake in shares of Visa during the 4th quarter valued at approximately $35,000. Monumental Financial Group Inc. purchased a new stake in shares of Visa during the 1st quarter valued at approximately $35,000. James Investment Research Inc. lifted its stake in shares of Visa by 1,400.0% during the 1st quarter. James Investment Research Inc. now owns 180 shares of the credit-card processor’s stock valued at $40,000 after buying an additional 168 shares in the last quarter. Finally, Rather & Kittrell Inc. purchased a new stake in shares of Visa during the 4th quarter valued at approximately $43,000. 81.49% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $212.11, for a total value of $1,908,990.00. Following the sale, the chief executive officer now owns 156,887 shares of the company’s stock, valued at approximately $33,277,301.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.21% of the company’s stock.
Visa Price Performance
Shares of Visa stock opened at $205.20 on Friday. The firm has a market cap of $387.91 billion, a PE ratio of 30.27, a price-to-earnings-growth ratio of 1.62 and a beta of 0.90. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $236.96. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $207.79 and its two-hundred day simple moving average is $207.91.
Visa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Friday, August 12th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date was Thursday, August 11th. Visa’s dividend payout ratio (DPR) is presently 22.12%.
Analysts Set New Price Targets
V has been the topic of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Visa from $278.00 to $262.00 in a research note on Wednesday, July 27th. Robert W. Baird lowered their target price on shares of Visa from $290.00 to $265.00 in a research note on Wednesday, July 20th. Morgan Stanley increased their target price on shares of Visa from $284.00 to $291.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Mizuho lowered their target price on shares of Visa from $235.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, July 1st. Finally, Truist Financial lowered their target price on shares of Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $257.64.
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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