RiverPark Advisors LLC Trims Stock Position in Visa Inc. (NYSE:V)

RiverPark Advisors LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 41,903 shares of the credit-card processor’s stock after selling 3,116 shares during the period. RiverPark Advisors LLC’s holdings in Visa were worth $8,872,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Visa during the 4th quarter valued at about $3,305,348,000. Morgan Stanley grew its position in shares of Visa by 20.2% during the 4th quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock valued at $8,922,767,000 after acquiring an additional 6,857,457 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Visa by 7.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,009,523 shares of the credit-card processor’s stock valued at $17,787,336,000 after acquiring an additional 6,034,535 shares during the period. Viking Global Investors LP grew its position in shares of Visa by 1,170.4% during the 4th quarter. Viking Global Investors LP now owns 4,085,538 shares of the credit-card processor’s stock valued at $893,630,000 after acquiring an additional 3,763,943 shares during the period. Finally, Magellan Asset Management Ltd grew its position in shares of Visa by 32.1% during the 1st quarter. Magellan Asset Management Ltd now owns 12,625,802 shares of the credit-card processor’s stock valued at $2,673,261,000 after acquiring an additional 3,065,044 shares during the period. Institutional investors and hedge funds own 81.11% of the company’s stock.

In other news, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction dated Monday, May 3rd. The shares were sold at an average price of $234.05, for a total value of $2,619,721.65. Following the completion of the sale, the president now directly owns 11,193 shares of the company’s stock, valued at $2,619,721.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $235.32, for a total transaction of $2,117,880.00. Following the completion of the sale, the chief executive officer now directly owns 160,112 shares of the company’s stock, valued at $37,677,555.84. The disclosure for this sale can be found here. Insiders sold 88,047 shares of company stock valued at $20,834,001 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Shares of V stock traded up $0.22 on Thursday, reaching $243.88. 67,490 shares of the stock were exchanged, compared to its average volume of 7,176,039. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average price is $233.70. The stock has a market cap of $475.07 billion, a P/E ratio of 50.34, a price-to-earnings-growth ratio of 2.31 and a beta of 0.99. Visa Inc. has a twelve month low of $179.23 and a twelve month high of $250.46.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.12. Visa had a net margin of 49.93% and a return on equity of 33.86%. The company had revenue of $5.73 billion during the quarter, compared to the consensus estimate of $5.54 billion. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Visa’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc. will post 5.62 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were paid a $0.32 dividend. The ex-dividend date was Thursday, May 13th. This represents a $1.28 annualized dividend and a yield of 0.52%. Visa’s dividend payout ratio is presently 25.40%.

V has been the topic of several research analyst reports. Piper Sandler upgraded Visa from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $234.00 to $260.00 in a report on Monday, June 7th. BMO Capital Markets lifted their price objective on Visa from $230.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, April 29th. Oppenheimer lifted their price objective on Visa from $260.00 to $281.00 and gave the stock an “outperform” rating in a report on Friday, July 9th. Susquehanna lifted their price objective on Visa from $250.00 to $265.00 and gave the stock a “positive” rating in a report on Wednesday, April 28th. Finally, Wells Fargo & Company lifted their price objective on Visa from $240.00 to $265.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Twenty-two investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $258.92.

About Visa

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.

Read More: How to find the components of the quick ratio

Institutional Ownership by Quarter for Visa (NYSE:V)

Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.