Legacy Capital Group California Inc. acquired a new stake in Visa Inc. (NYSE:V – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 953 shares of the credit-card processor’s stock, valued at approximately $226,000.
Several other large investors also recently modified their holdings of V. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Visa by 107,990.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,998,628,576 shares of the credit-card processor’s stock worth $474,634,314,000 after acquiring an additional 1,996,779,546 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Visa by 116,608.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 24,504,130 shares of the credit-card processor’s stock worth $5,090,978,000 after acquiring an additional 24,483,134 shares in the last quarter. Norges Bank acquired a new position in shares of Visa in the 4th quarter worth approximately $3,067,232,000. Morgan Stanley boosted its holdings in shares of Visa by 13.0% in the 4th quarter. Morgan Stanley now owns 51,122,866 shares of the credit-card processor’s stock worth $10,621,287,000 after acquiring an additional 5,864,340 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Visa by 130.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,042,098 shares of the credit-card processor’s stock worth $680,069,000 after acquiring an additional 3,986,135 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have issued reports on V shares. Credit Suisse Group upped their price objective on Visa from $265.00 to $275.00 in a report on Wednesday, July 26th. KeyCorp upped their price objective on Visa from $265.00 to $275.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. JPMorgan Chase & Co. reduced their price objective on Visa from $296.00 to $293.00 and set an “overweight” rating on the stock in a report on Monday, October 9th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Visa in a report on Thursday, October 12th. Finally, UBS Group started coverage on Visa in a report on Friday, October 20th. They set a “buy” rating and a $295.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Visa presently has an average rating of “Moderate Buy” and a consensus price target of $275.67.
Visa Price Performance
V opened at $249.56 on Friday. 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 12 month low of $202.13 and a 12 month high of $250.24. The company has a fifty day simple moving average of $238.42 and a 200 day simple moving average of $236.19. The stock has a market cap of $464.64 billion, a P/E ratio of 30.10, a P/E/G ratio of 1.66 and a beta of 0.95.
Visa (NYSE:V – Get Free Report) last released its quarterly earnings data on Tuesday, October 24th. The credit-card processor reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.10. Visa had a net margin of 52.90% and a return on equity of 50.13%. The business had revenue of $8.61 billion during the quarter, compared to analysts’ expectations of $8.56 billion. During the same quarter in the prior year, the company earned $1.93 EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 9.9 EPS for the current year.
Visa Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Thursday, November 9th will be issued a dividend of $0.52 per share. 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 boost from Visa’s previous quarterly dividend of $0.45. Visa’s dividend payout ratio is 25.09%.
Insiders Place Their Bets
In other Visa news, insider Rajat Taneja sold 15,800 shares of the stock in a transaction dated 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 owns 232,112 shares in the company, valued at approximately $58,030,321.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Alfred F. Kelly, Jr. sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $236.14, for a total value of $9,445,600.00. Following the completion of the transaction, the chairman now 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 available through this hyperlink. Also, insider Rajat Taneja sold 15,800 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 232,112 shares of the company’s stock, valued at approximately $58,030,321.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,100 shares of company stock worth $17,368,639. Corporate insiders own 0.22% of the company’s stock.
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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