Staley Capital Advisers Inc. bought a new stake in shares of Visa Inc (NYSE:V) during the third quarter, HoldingsChannel reports. The fund bought 1,989 shares of the credit-card processor’s stock, valued at approximately $209,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wade G W & Inc. grew its stake in Visa by 71.2% in the third quarter. Wade G W & Inc. now owns 7,483 shares of the credit-card processor’s stock worth $788,000 after purchasing an additional 3,112 shares in the last quarter. Fernwood Investment Management LLC grew its stake in Visa by 4.6% in the third quarter. Fernwood Investment Management LLC now owns 22,967 shares of the credit-card processor’s stock worth $2,417,000 after purchasing an additional 1,007 shares in the last quarter. Jackson Wealth Management LLC grew its stake in Visa by 12.5% in the third quarter. Jackson Wealth Management LLC now owns 41,879 shares of the credit-card processor’s stock worth $4,494,000 after purchasing an additional 4,656 shares in the last quarter. AGF Investments Inc. grew its stake in Visa by 20.9% in the third quarter. AGF Investments Inc. now owns 265,590 shares of the credit-card processor’s stock worth $27,951,000 after purchasing an additional 45,866 shares in the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Visa by 0.7% in the third quarter. Great West Life Assurance Co. Can now owns 1,708,532 shares of the credit-card processor’s stock worth $178,564,000 after purchasing an additional 12,614 shares in the last quarter. 81.57% of the stock is currently owned by hedge funds and other institutional investors.
V has been the topic of several research analyst reports. Susquehanna Bancshares increased their price objective on Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $120.00 price objective on shares of Visa in a research note on Wednesday, October 25th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wells Fargo & Co reissued an “outperform” rating and issued a $135.00 price objective (up previously from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Finally, Jefferies Group increased their price objective on Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $133.85.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. sell-side analysts expect that Visa Inc will post 4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is currently 25.83%.
Visa declared that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,068 shares of company stock valued at $6,597,262. Company insiders own 0.14% of the company’s stock.
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Visa Company Profile
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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