Covestor Ltd increased its stake in Visa Inc. (NYSE:V – Free Report) by 36.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,219 shares of the credit-card processor’s stock after purchasing an additional 323 shares during the quarter. Covestor Ltd’s holdings in Visa were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank Julius Baer & Co. Ltd Zurich grew its position in Visa by 107,990.7% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock valued at $474,634,314,000 after purchasing an additional 1,996,779,546 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in Visa by 116,608.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock valued at $5,090,978,000 after purchasing an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new position in Visa in the 4th quarter worth about $3,067,232,000. Morgan Stanley raised its stake in shares of Visa by 13.0% during the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after purchasing an additional 5,864,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Visa by 130.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock valued at $680,069,000 after buying an additional 3,986,135 shares during the last quarter. Institutional investors and hedge funds own 81.35% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on V. Susquehanna increased their price target on Visa from $266.00 to $300.00 in a report on Wednesday, July 26th. Barclays dropped their target price on shares of Visa from $285.00 to $278.00 and set an “overweight” rating on the stock in a report on Monday, October 30th. Credit Suisse Group upped their price target on shares of Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. Raymond James lifted their price objective on Visa from $284.00 to $287.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price on Visa from $296.00 to $293.00 and set an “overweight” rating for the company in a research note on Monday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $275.67.
Insider Activity at Visa
In related news, insider Rajat Taneja sold 15,800 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $250.01, for a total transaction of $3,950,158.00. Following the completion of the transaction, the insider now directly owns 232,112 shares of the company’s stock, valued at $58,030,321.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of Visa stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total transaction of $9,445,600.00. Following the completion of the transaction, the chairman now directly owns 139,854 shares in the company, valued at approximately $33,025,123.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Rajat Taneja sold 15,800 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $250.01, for a total value of $3,950,158.00. Following the completion of the sale, the insider now owns 232,112 shares in the company, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 81,300 shares of company stock valued at $19,668,731. Corporate insiders own 0.22% of the company’s stock.
Visa Trading Up 0.8 %
Visa stock traded up $2.05 during midday trading on Tuesday, hitting $252.02. 2,851,781 shares of the stock were exchanged, compared to its average volume of 6,019,614. The stock has a market capitalization of $469.22 billion, a PE ratio of 30.34, a P/E/G ratio of 1.66 and a beta of 0.95. The company has a fifty day simple moving average of $238.48 and a two-hundred day simple moving average of $236.43. The company has a quick ratio of 1.49, a current ratio of 1.45 and a debt-to-equity ratio of 0.55. Visa Inc. has a 52 week low of $202.13 and a 52 week high of $253.34.
Visa (NYSE:V – Get Free Report) last posted its earnings results on Tuesday, October 24th. The credit-card processor reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. Visa had a return on equity of 50.13% and a net margin of 52.90%. The firm had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. During the same period in the previous year, the firm earned $1.93 earnings per share. The company’s revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 9.9 EPS for the current fiscal year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Thursday, November 9th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, November 8th. This is a positive change from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio (DPR) is currently 25.09%.
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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