Zuckerman Investment Group LLC lifted its stake in shares of Visa Inc. (NYSE:V – Get Rating) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,585 shares of the credit-card processor’s stock after purchasing an additional 343 shares during the period. Zuckerman Investment Group LLC’s holdings in Visa were worth $459,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Visa by 2.7% in the second quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 34,800 shares of the credit-card processor’s stock valued at $6,852,000 after buying an additional 913 shares during the last quarter. Venture Visionary Partners LLC boosted its position in Visa by 2.9% during the second quarter. Venture Visionary Partners LLC now owns 82,339 shares of the credit-card processor’s stock worth $16,212,000 after purchasing an additional 2,318 shares during the period. Pflug Koory LLC boosted its position in Visa by 14.4% during the second quarter. Pflug Koory LLC now owns 2,838 shares of the credit-card processor’s stock worth $559,000 after purchasing an additional 357 shares during the period. First City Capital Management Inc. acquired a new position in shares of Visa in the third quarter valued at $213,000. Finally, NBW Capital LLC raised its position in shares of Visa by 1.4% in the second quarter. NBW Capital LLC now owns 17,535 shares of the credit-card processor’s stock valued at $3,452,000 after purchasing an additional 234 shares during the period. Institutional investors and hedge funds own 81.87% of the company’s stock.
Analyst Upgrades and Downgrades
V has been the subject of several research analyst reports. UBS Group reduced their target price on shares of Visa from $290.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, December 15th. Keefe, Bruyette & Woods reduced their price objective on Visa from $275.00 to $246.00 in a report on Monday, October 10th. Jefferies Financial Group increased their target price on Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 18th. Wolfe Research boosted their price target on Visa from $240.00 to $255.00 in a research note on Thursday, January 5th. Finally, Redburn Partners started coverage on Visa in a report on Tuesday, November 29th. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Visa currently has an average rating of “Moderate Buy” and an average target price of $256.15.
Visa Price Performance
Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The credit-card processor reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.07. The company had revenue of $7.79 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Visa had a return on equity of 48.56% and a net margin of 51.03%. As a group, equities analysts predict that Visa Inc. will post 8.3 earnings per share for the current fiscal year.
Visa Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Shareholders of record on Friday, December 16th were given a $0.395 dividend. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio is presently 25.75%.
Visa announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 25th that authorizes the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the transaction, the insider now owns 232,112 shares of the company’s stock, valued at $50,291,707.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Visa news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rajat Taneja sold 25,627 shares of the company’s stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $216.67, for a total value of $5,552,602.09. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $50,291,707.04. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
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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