Drive Wealth Management LLC raised its holdings in Visa Inc. (NYSE:V – Get Rating) by 26.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,582 shares of the credit-card processor’s stock after buying an additional 1,178 shares during the quarter. Drive Wealth Management LLC’s holdings in Visa were worth $1,160,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Visa by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock valued at $25,801,337,000 after purchasing an additional 912,545 shares in the last quarter. Alliancebernstein L.P. boosted its position in Visa by 7.0% in the third quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after buying an additional 1,785,695 shares in the last quarter. Jennison Associates LLC grew its stake in Visa by 0.6% during the third quarter. Jennison Associates LLC now owns 13,270,127 shares of the credit-card processor’s stock worth $2,357,438,000 after buying an additional 77,186 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of Visa by 3.0% during the third quarter. Royal Bank of Canada now owns 13,157,577 shares of the credit-card processor’s stock worth $2,337,444,000 after buying an additional 383,335 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Visa by 1.3% in the second quarter. Legal & General Group Plc now owns 11,724,520 shares of the credit-card processor’s stock valued at $2,308,444,000 after acquiring an additional 148,594 shares during the last quarter. Institutional investors and hedge funds own 81.87% of the company’s stock.
Visa Stock Performance
V stock opened at $225.99 on Monday. Visa Inc. has a 1-year low of $174.60 and a 1-year high of $234.30. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market cap of $425.09 billion, a PE ratio of 31.61, a P/E/G ratio of 1.77 and a beta of 0.96. The business’s 50-day moving average price is $223.74 and its two-hundred day moving average price is $211.12.
Visa Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Friday, February 10th were given a dividend of $0.45 per share. This is an increase 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 dividend payout ratio is currently 25.17%.
Insider Transactions at Visa
In related 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 sale, the general counsel now directly owns 4,583 shares of the company’s stock, valued at approximately $1,003,677. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Julie B. Rottenberg sold 13,394 shares of Visa stock in a transaction that occurred on Friday, February 24th. The stock was sold at an average price of $219.00, for a total value of $2,933,286.00. Following the sale, the general counsel now owns 4,583 shares of the company’s stock, valued at approximately $1,003,677. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred F. Kelly, Jr. sold 58,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 162,354 shares of the company’s stock, valued at approximately $36,365,672.46. The disclosure for this sale can be found here. Insiders sold 133,115 shares of company stock valued at $30,115,598 over the last quarter. Corporate insiders own 0.22% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on the company. JPMorgan Chase & Co. increased 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. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Thursday, March 23rd. Oppenheimer raised their price target on shares of Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. Wolfe Research upped their price objective on Visa from $240.00 to $255.00 in a report on Thursday, January 5th. Finally, Wells Fargo & Company increased their price objective on Visa from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Visa currently has an average rating of “Moderate Buy” and an average 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).
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