Park Avenue Securities LLC lifted its holdings in Visa Inc. (NYSE:V – Get Rating) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,367 shares of the credit-card processor’s stock after purchasing an additional 3,527 shares during the period. Park Avenue Securities LLC’s holdings in Visa were worth $15,866,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in V. BCK Partners Inc. bought a new position in Visa during the first quarter valued at about $2,717,000. Markel Corp grew its stake in shares of Visa by 0.3% in the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after purchasing an additional 3,065 shares during the period. AMI Investment Management Inc. bought a new stake in shares of Visa in the 1st quarter valued at approximately $2,323,000. Ergoteles LLC bought a new stake in shares of Visa in the 1st quarter valued at approximately $538,000. Finally, XTX Topco Ltd bought a new stake in shares of Visa in the 1st quarter valued at approximately $1,496,000. 81.87% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
V has been the topic of several analyst reports. UBS Group lowered their price objective on Visa from $290.00 to $287.00 and set a “buy” rating on the stock in a research note on Thursday, December 15th. Credit Suisse Group upped their price objective on Visa from $245.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Robert W. Baird upped their price objective on Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a research note on Thursday, January 19th. Morgan Stanley boosted their target price on Visa from $284.00 to $288.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Finally, JPMorgan Chase & Co. boosted their target price on Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $259.11.
Visa Stock Up 1.4 %
Visa (NYSE:V – Get Rating) last issued its earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, beating the consensus estimate of $2.01 by $0.17. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.70 billion. Visa had a net margin of 50.28% and a return on equity of 49.95%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.81 EPS. On average, analysts anticipate that Visa Inc. will post 8.43 EPS for the current year.
Visa Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a dividend of $0.45 per share. This is a boost from Visa’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend 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%.
Insider Buying and Selling at Visa
In other Visa news, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Rajat Taneja sold 61,721 shares of the company’s stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $229.92, for a total value of $14,190,892.32. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $53,367,191.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Ryan Mcinerney sold 58,197 shares of the company’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $62.47, for a total transaction of $3,635,566.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,312 shares of company stock worth $33,751,165. Insiders own 0.22% of the company’s stock.
About Visa
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.
