McCollum Christoferson Group LLC bought a new position in Visa Inc (NYSE:V) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 37,400 shares of the credit-card processor’s stock, valued at approximately $4,264,000. Visa makes up 1.8% of McCollum Christoferson Group LLC’s portfolio, making the stock its 26th biggest holding.
Several other institutional investors and hedge funds have also made changes to their positions in V. Welch Investments LLC bought a new position in Visa in the 3rd quarter worth approximately $101,000. Cordasco Financial Network bought a new position in Visa in the 3rd quarter worth approximately $105,000. Motco raised its position in Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new position in Visa in the 3rd quarter worth approximately $110,000. Finally, MPS Loria Financial Planners LLC bought a new position in Visa in the 2nd quarter worth approximately $123,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of Visa Inc (V) opened at $124.53 on Friday. The company has a market cap of $280,920.00, a price-to-earnings ratio of 48.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.00. Visa Inc has a 1 year low of $87.85 and a 1 year high of $126.88. 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 quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts forecast that Visa Inc will post 4.38 earnings per share for the current fiscal year.
Visa announced that its board has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.67%. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is currently 32.94%.
In related news, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by corporate insiders.
V has been the subject of several research analyst reports. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price objective on shares of Visa and gave the stock a “buy” rating in a research report on Monday, January 8th. Vetr cut shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 price objective for the company. in a research report on Monday, January 8th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $141.00 price objective on shares of Visa in a research report on Friday, December 22nd. Finally, Cowen restated a “buy” rating and issued a $129.00 price objective on shares of Visa in a research report on Friday, January 12th. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $134.14.
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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