Nomura Asset Management Co. Ltd. raised its stake in shares of Visa Inc (NYSE:V) by 0.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 262,197 shares of the credit-card processor’s stock after purchasing an additional 732 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Visa were worth $27,594,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of V. Welch Investments LLC bought a new position in Visa during the 3rd quarter valued at about $101,000. Cordasco Financial Network bought a new position in Visa during the 3rd quarter valued at about $105,000. Motco lifted its stake in Visa by 25.1% during the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after acquiring an additional 236 shares during the period. Massey Quick Simon & CO. LLC bought a new position in Visa during the 3rd quarter valued at about $110,000. Finally, BDO Wealth Advisors LLC bought a new position in Visa during the 2nd quarter valued at about $115,000. Institutional investors and hedge funds own 81.28% of the company’s stock.
Shares of Visa Inc (V) opened at $121.85 on Monday. Visa Inc has a one year low of $86.98 and a one year high of $126.88. The company has a market cap of $276,140.00, a P/E ratio of 40.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last released its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the business earned $0.86 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. equities analysts forecast that Visa Inc will post 4.37 earnings per share for the current year.
Visa announced that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is 27.81%.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the sale, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,780 shares of company stock valued at $6,802,702. Insiders own 0.14% of the company’s stock.
Several equities analysts have issued reports on the stock. Guggenheim restated a “buy” rating and set a $136.00 target price on shares of Visa in a research note on Friday, February 2nd. BMO Capital Markets reiterated a “positive” rating and issued a $148.00 price objective on shares of Visa in a research note on Monday, February 5th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $126.37 price objective on the stock in a research note on Monday, February 5th. Nomura lowered their price objective on shares of Visa from $148.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Finally, Loop Capital increased their price objective on shares of Visa to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $133.85.
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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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