Cetera Advisors LLC decreased its position in Visa Inc (NYSE:V) by 9.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,204 shares of the credit-card processor’s stock after selling 2,653 shares during the quarter. Cetera Advisors LLC’s holdings in Visa were worth $2,552,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. iAB Financial Bank increased its position in shares of Visa by 2.6% in the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock valued at $5,342,000 after acquiring an additional 1,423 shares during the last quarter. Heritage Trust Co increased its position in Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after buying an additional 1,535 shares during the last quarter. Aviva PLC increased its position in Visa by 0.8% during the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock worth $132,432,000 after buying an additional 11,662 shares during the last quarter. Jacobi Capital Management LLC increased its position in Visa by 12.2% during the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock worth $892,000 after buying an additional 1,016 shares during the last quarter. Finally, Fundsmith LLP increased its position in Visa by 5.3% during the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after buying an additional 262,930 shares during the last quarter. 81.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc (NYSE V) opened at $122.94 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $278,610.00, a P/E ratio of 48.21, a P/E/G ratio of 1.64 and a beta of 1.03. Visa Inc has a 12 month low of $87.85 and a 12 month high of $126.88.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be paid a $0.21 dividend. This is a boost from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s payout ratio is 32.94%.
Visa announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on V shares. Susquehanna Bancshares boosted their price target on Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Wells Fargo & Co reissued an “outperform” rating and set a $135.00 price target (up previously from $127.00) on shares of Visa in a research report on Tuesday, January 9th. Stephens reissued a “buy” rating and set a $135.00 price target on shares of Visa in a research report on Wednesday, January 10th. Cowen reissued a “buy” rating and set a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Finally, Citigroup reissued a “buy” rating and set a $136.00 price target (up previously from $124.00) 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’s stock. Visa currently has a consensus rating of “Buy” and an average target price of $134.20.
In related news, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were 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. Over the last quarter, insiders sold 57,634 shares of company stock valued at $6,562,157. 0.14% of the stock is currently owned by corporate insiders.
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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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