National Pension Service grew its stake in Visa Inc (NYSE:V) by 2.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,509,434 shares of the credit-card processor’s stock after purchasing an additional 36,721 shares during the period. Visa makes up about 0.9% of National Pension Service’s holdings, making the stock its 22nd largest holding. National Pension Service’s holdings in Visa were worth $172,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Visa in the second quarter worth approximately $958,000. Welch Investments LLC purchased a new position in Visa in the third quarter worth approximately $101,000. Cordasco Financial Network purchased a new position in Visa in the third quarter worth approximately $105,000. Massey Quick Simon & CO. LLC purchased a new position in Visa in the third quarter worth approximately $110,000. Finally, Motco grew its position in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after acquiring an additional 236 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.
Several brokerages recently weighed in on V. Vetr upgraded Visa from a “buy” rating to a “strong-buy” rating and set a $135.40 price objective for the company in a research report on Thursday, March 1st. BMO Capital Markets reiterated a “positive” rating and issued a $148.00 price objective on shares of Visa in a research report on Monday, February 5th. Mizuho restated a “buy” rating and set a $136.00 price target on shares of Visa in a research report on Friday, February 2nd. Guggenheim restated a “buy” rating and set a $136.00 price target on shares of Visa in a research report on Friday, February 2nd. Finally, Loop Capital raised their price target on Visa to $142.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Two investment 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. The company has an average rating of “Buy” and a consensus price target of $134.14.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. analysts anticipate that Visa Inc will post 4.36 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were 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 was Thursday, February 15th. Visa’s dividend payout ratio (DPR) is presently 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 outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction 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 sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Lynne Biggar sold 1,712 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 57,634 shares of company stock worth $6,562,157. Insiders own 0.14% of the company’s stock.
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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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