Kessler Investment Group LLC grew its holdings in Visa Inc (NYSE:V) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,350 shares of the credit-card processor’s stock after purchasing an additional 979 shares during the quarter. Visa comprises approximately 2.5% of Kessler Investment Group LLC’s portfolio, making the stock its 13th largest holding. Kessler Investment Group LLC’s holdings in Visa were worth $2,454,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fort L.P. purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $120,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $132,000. Bridgeworth LLC purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $143,000. Ruggie Capital Group purchased a new stake in shares of Visa during the 2nd quarter valued at approximately $164,000. Finally, O Dell Group LLC purchased a new stake in shares of Visa during the 3rd quarter valued at approximately $200,000. 80.15% of the stock is currently owned by institutional investors and hedge funds.
V has been the topic of several analyst reports. Wells Fargo & Co lifted their price target on shares of Visa from $161.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Royal Bank of Canada lifted their price target on shares of Visa to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, September 5th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price target on the stock in a research report on Tuesday, September 25th. Credit Suisse Group lifted their price target on shares of Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research report on Monday, October 8th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 target price on shares of Visa in a research report on Thursday, October 25th. Two research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $156.09.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. On average, sell-side analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be paid a $0.25 dividend. This is an increase from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is 21.69%.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the business’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the completion of the transaction, the executive vice president now owns 296,925 shares in the company, valued at $41,355,714. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the transaction, the executive vice president now owns 241,983 shares of the company’s stock, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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