Cascade Investment Group Inc. grew its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,056 shares of the credit-card processor’s stock after buying an additional 79 shares during the period. Visa accounts for approximately 1.6% of Cascade Investment Group Inc.’s holdings, making the stock its 15th biggest position. Cascade Investment Group Inc.’s holdings in Visa were worth $1,591,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of V. Vanguard Group Inc. boosted its stake in Visa by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 145,236,910 shares of the credit-card processor’s stock worth $25,801,337,000 after purchasing an additional 912,545 shares in the last quarter. Morgan Stanley lifted its stake in Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock valued at $10,621,287,000 after acquiring an additional 5,864,340 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Visa by 4.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 51,100,136 shares of the credit-card processor’s stock valued at $10,616,564,000 after acquiring an additional 2,216,275 shares during the period. Geode Capital Management LLC lifted its stake in Visa by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 32,221,146 shares of the credit-card processor’s stock valued at $6,683,673,000 after acquiring an additional 640,839 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Visa by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock valued at $4,821,741,000 after acquiring an additional 1,785,695 shares during the period. Institutional investors own 84.92% of the company’s stock.
Visa Stock Down 1.4 %
NYSE V opened at $226.30 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company has a market capitalization of $423.93 billion, a P/E ratio of 30.25, a P/E/G ratio of 1.76 and a beta of 0.97. Visa Inc. has a one year low of $174.60 and a one year high of $235.57. The stock has a 50 day moving average price of $228.47 and a 200-day moving average price of $223.40.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, May 12th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.80%. Visa’s dividend payout ratio is currently 24.06%.
Insider Buying and Selling
In related news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the completion of the sale, the chairman now directly owns 154,854 shares in the company, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total value of $1,746,525.00. Following the completion of the sale, the chairman now directly owns 154,854 shares in the company, valued at $36,060,850.98. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the completion of the sale, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,250,437.88. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock worth $27,018,374 over the last three months. 0.21% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on V shares. Barclays upped their target price on shares of Visa from $270.00 to $272.00 in a research note on Monday, May 1st. 22nd Century Group reaffirmed a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. KeyCorp upped their price target on shares of Visa from $250.00 to $260.00 in a research report on Monday, April 24th. BMO Capital Markets increased their target price on shares of Visa from $253.00 to $263.00 in a report on Wednesday, April 26th. Finally, Citigroup increased their target price on shares of Visa from $270.00 to $273.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $260.08.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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