Symphony Financial Ltd. Co. grew its position in Visa Inc. (NYSE:V – Get Rating) by 2.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,790 shares of the credit-card processor’s stock after buying an additional 81 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Visa were worth $808,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in V. Vigilant Capital Management LLC lifted its position in shares of Visa by 1.9% in the 4th quarter. Vigilant Capital Management LLC now owns 181,022 shares of the credit-card processor’s stock worth $37,609,000 after purchasing an additional 3,334 shares during the period. United Asset Strategies Inc. raised its stake in Visa by 13.1% in the fourth quarter. United Asset Strategies Inc. now owns 5,372 shares of the credit-card processor’s stock worth $1,116,000 after buying an additional 622 shares in the last quarter. Barden Capital Management Inc. lifted its holdings in Visa by 10.5% during the fourth quarter. Barden Capital Management Inc. now owns 7,390 shares of the credit-card processor’s stock worth $1,535,000 after buying an additional 703 shares during the period. Granite Bay Wealth Management LLC bought a new stake in Visa during the 4th quarter valued at $259,000. Finally, Regent Investment Management LLC increased its holdings in shares of Visa by 0.9% in the 4th quarter. Regent Investment Management LLC now owns 18,025 shares of the credit-card processor’s stock valued at $3,745,000 after acquiring an additional 155 shares during the period. Institutional investors own 81.87% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Credit Suisse Group upped their price objective on Visa from $245.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. UBS Group decreased their price target on shares of Visa from $290.00 to $287.00 and set a “buy” rating for the company in a research report on Thursday, December 15th. Robert W. Baird raised their price target on shares of Visa from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Thursday, January 19th. Raymond James boosted their price objective on shares of Visa from $261.00 to $281.00 and gave the stock an “outperform” rating in a research note on Friday, January 27th. Finally, Mizuho increased their target price on shares of Visa from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, January 30th. One research 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.11.
Visa Stock Performance
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, topping analysts’ consensus estimates of $2.01 by $0.17. Visa had a return on equity of 49.95% and a net margin of 50.28%. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same quarter in the prior year, the business earned $1.81 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Visa Inc. will post 8.43 EPS for the current year.
Visa Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were issued a $0.45 dividend. 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 dividend on an annualized basis and a yield of 0.80%. Visa’s payout ratio is presently 25.17%.
Insiders Place Their Bets
In other news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total transaction of $12,991,420.00. Following the sale, the chairman now directly owns 162,354 shares in the company, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $223.99, for a total value of $12,991,420.00. Following the completion of the transaction, the chairman now owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rajat Taneja sold 61,721 shares of the firm’s stock in a transaction that occurred 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 directly owns 232,112 shares in the company, valued at $53,367,191.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,312 shares of company stock worth $33,751,165. Company 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).
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