Covea Finance increased its position in Visa Inc. (NYSE:V – Free Report) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 176,421 shares of the credit-card processor’s stock after acquiring an additional 14,000 shares during the quarter. Visa accounts for approximately 2.5% of Covea Finance’s holdings, making the stock its 10th largest holding. Covea Finance’s holdings in Visa were worth $55,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of the company. Unionview LLC grew its holdings in Visa by 1.5% in the third quarter. Unionview LLC now owns 2,296 shares of the credit-card processor’s stock valued at $631,000 after purchasing an additional 33 shares during the last quarter. Forza Wealth Management LLC boosted its position in shares of Visa by 2.9% in the 4th quarter. Forza Wealth Management LLC now owns 1,164 shares of the credit-card processor’s stock worth $368,000 after buying an additional 33 shares in the last quarter. FWG Holdings LLC grew its stake in Visa by 1.1% in the 3rd quarter. FWG Holdings LLC now owns 3,168 shares of the credit-card processor’s stock valued at $900,000 after acquiring an additional 34 shares during the last quarter. St. Louis Trust Co increased its holdings in Visa by 0.9% during the 3rd quarter. St. Louis Trust Co now owns 3,885 shares of the credit-card processor’s stock valued at $1,068,000 after acquiring an additional 34 shares in the last quarter. Finally, Menard Financial Group LLC raised its position in Visa by 0.6% during the third quarter. Menard Financial Group LLC now owns 6,217 shares of the credit-card processor’s stock worth $1,709,000 after acquiring an additional 35 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.
Visa Stock Performance
Shares of V stock opened at $316.45 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $589.51 billion, a PE ratio of 32.52, a P/E/G ratio of 2.06 and a beta of 0.96. The company’s fifty day simple moving average is $312.76 and its 200-day simple moving average is $287.65. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61.
Visa Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. Visa’s dividend payout ratio is currently 24.25%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on V shares. Barclays raised their price objective on shares of Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Susquehanna boosted their price target on Visa from $339.00 to $375.00 and gave the stock a “positive” rating in a report on Wednesday, December 11th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Robert W. Baird boosted their target price on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on shares of Visa from $326.00 to $371.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and a consensus price target of $331.92.
Check Out Our Latest Stock Analysis on V
Insider Buying and Selling at Visa
In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
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.
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