Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Visa Inc (NYSE:V) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 302,096 shares of the credit-card processor’s stock after purchasing an additional 7,397 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Visa were worth $31,795,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of V. AlphaStar Capital Management LLC acquired a new stake in shares of Visa in the 3rd quarter worth approximately $747,000. Kalos Management Inc. acquired a new stake in shares of Visa in the 3rd quarter worth approximately $255,000. Cedar Hill Associates LLC acquired a new stake in shares of Visa in the 3rd quarter worth approximately $1,363,000. Patten Group Inc. grew its holdings in shares of Visa by 94.8% in the 3rd quarter. Patten Group Inc. now owns 137,086 shares of the credit-card processor’s stock worth $7,306,000 after acquiring an additional 66,705 shares during the period. Finally, Violich Capital Management Inc. grew its holdings in shares of Visa by 2.7% in the 3rd quarter. Violich Capital Management Inc. now owns 187,527 shares of the credit-card processor’s stock worth $19,735,000 after acquiring an additional 4,865 shares during the period. 81.59% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc (NYSE:V) opened at $122.93 on Monday. Visa Inc has a fifty-two week low of $87.30 and a fifty-two week 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. The stock has a market capitalization of $278,580.00, a price-to-earnings ratio of 48.21, a PEG ratio of 1.63 and a beta of 1.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This is a boost from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is 32.94%.
Visa declared that its Board of Directors has authorized a stock repurchase program on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
V has been the topic of a number of research reports. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price target on Visa and gave the stock a “buy” rating in a report on Monday, January 8th. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a report on Monday, January 8th. Jefferies Group upped their price target on Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Cowen restated a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $134.20.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction on Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The disclosure for this sale can be found here. Insiders have sold 57,634 shares of company stock worth $6,562,157 in the last 90 days. Insiders own 0.14% of the company’s stock.
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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