Resonant Capital Advisors LLC raised its stake in Visa Inc. (NYSE:V – Get Rating) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,959 shares of the credit-card processor’s stock after buying an additional 1,076 shares during the period. Resonant Capital Advisors LLC’s holdings in Visa were worth $3,523,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. McClarren Financial Advisors Inc. purchased a new position in shares of Visa during the 3rd quarter worth approximately $26,000. Global Wealth Strategies & Associates purchased a new position in shares of Visa during the 4th quarter worth approximately $26,000. Cowa LLC purchased a new position in shares of Visa during the 3rd quarter worth approximately $29,000. JDM Financial Group LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $29,000. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of Visa during the 4th quarter worth approximately $31,000. 81.87% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Visa
In related news, insider Rajat Taneja sold 61,721 shares of Visa stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the transaction, the insider now owns 232,112 shares in the company, valued at approximately $53,367,191.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Visa news, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $219.00, for a total value of $2,933,286.00. Following the transaction, the general counsel now owns 4,583 shares in the company, valued at approximately $1,003,677. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajat Taneja sold 61,721 shares of the business’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $229.92, for a total transaction of $14,190,892.32. Following the completion of the transaction, the insider now owns 232,112 shares in the company, valued at approximately $53,367,191.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,312 shares of company stock worth $33,751,165. 0.22% of the stock is currently owned by corporate insiders.
Visa Stock Up 1.4 %
Visa (NYSE:V – Get Rating) last posted its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.17. The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. Analysts forecast that Visa Inc. will post 8.43 earnings per share for the current year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Friday, February 10th were issued a dividend of $0.45 per share. This is a positive change from Visa’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, February 9th. This represents a $1.80 annualized dividend and a dividend yield of 0.80%. Visa’s payout ratio is presently 25.17%.
Analysts Set New Price Targets
V has been the subject of a number of recent research reports. Mizuho raised their price objective on shares of Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, January 30th. BMO Capital Markets raised their price objective on shares of Visa from $249.00 to $253.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Barclays raised their target price on shares of Visa from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Sunday, January 29th. UBS Group cut their price target on Visa from $290.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Finally, Wells Fargo & Company raised their price objective on Visa from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.
Visa Company Profile
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
Featured Articles
- Get a free copy of the StockNews.com research report on Visa (V)
- MarketBeat Week in Review – 3/27 – 3/31
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V – Get Rating).
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.
