Duncker Streett & Co. Inc. lifted its stake in Visa Inc (NYSE:V) by 61.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,703 shares of the credit-card processor’s stock after purchasing an additional 4,851 shares during the period. Duncker Streett & Co. Inc.’s holdings in Visa were worth $1,337,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of V. Vanguard Group Inc. lifted its stake in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. BlackRock Inc. lifted its stake in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after acquiring an additional 1,440,034 shares during the period. Fisher Asset Management LLC lifted its stake in Visa by 2.3% in the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after acquiring an additional 355,320 shares during the period. Capital Research Global Investors lifted its stake in Visa by 20.3% in the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after acquiring an additional 1,919,732 shares during the period. Finally, Polen Capital Management LLC lifted its stake in Visa by 7.7% in the second quarter. Polen Capital Management LLC now owns 10,425,812 shares of the credit-card processor’s stock worth $977,733,000 after acquiring an additional 745,312 shares during the period. Hedge funds and other institutional investors own 81.50% of the company’s stock.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now owns 57,368 shares in the company, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,068 shares of company stock worth $6,597,262. Corporate insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. sell-side analysts forecast that Visa Inc will post 4.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 annualized dividend and a dividend yield of 0.69%. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s dividend payout ratio is 27.86%.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods reissued a “buy” rating and set a $141.00 price target on shares of Visa in a research report on Friday, December 22nd. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $119.56 price target for the company in a research report on Thursday, December 14th. Jefferies Group increased their price target on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Buckingham Research increased their price target on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $118.02.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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