Rathbone Brothers plc raised its stake in shares of Visa (NYSE:V) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 987,570 shares of the credit-card processor’s stock after purchasing an additional 14,069 shares during the period. Visa accounts for approximately 4.6% of Rathbone Brothers plc’s holdings, making the stock its biggest position. Rathbone Brothers plc’s holdings in Visa were worth $112,603,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Welch Investments LLC bought a new position in shares of Visa in the 3rd quarter valued at about $101,000. Cordasco Financial Network bought a new position in shares of Visa in the 3rd quarter valued at about $105,000. Massey Quick Simon & CO. LLC bought a new position in shares of Visa in the 3rd quarter valued at about $110,000. MPS Loria Financial Planners LLC bought a new position in shares of Visa in the 2nd quarter valued at about $123,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of Visa in the 2nd quarter valued at about $125,000. 81.47% of the stock is owned by institutional investors and hedge funds.
V stock opened at $117.00 on Friday. The company has a market cap of $253,899.39, a P/E ratio of 38.87, a PEG ratio of 1.62 and a beta of 0.99. Visa has a 1 year low of $88.07 and a 1 year high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07.
Visa declared that its board has initiated a share buyback plan on Thursday, February 1st that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is 27.91%.
In other news, EVP Lynne Biggar sold 1,712 shares of the firm’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 transaction of $205,440.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
V has been the subject of a number of analyst reports. Susquehanna Bancshares increased their price target on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Cowen reissued a “buy” rating and issued a $129.00 price objective on shares of Visa in a research report on Friday, January 12th. Citigroup reissued a “buy” rating and issued a $136.00 price objective (up from $124.00) on shares of Visa in a research report on Friday, January 12th. Stephens reissued a “buy” rating and issued a $135.00 price objective on shares of Visa in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $141.00 price objective on shares of Visa in a research report on Friday, December 22nd. 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 company. The stock presently has an average rating of “Buy” and a consensus target price of $134.14.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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