St. Louis Trust Co bought a new position in shares of Visa (NYSE:V) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 3,238 shares of the credit-card processor’s stock, valued at approximately $369,000.
A number of other institutional investors have also recently made changes to their positions in V. Janus Henderson Group PLC raised its stake in Visa by 159.7% in the 2nd quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock valued at $909,979,000 after acquiring an additional 5,966,991 shares during the period. Vanguard Group Inc. raised its stake in Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. Capital Research Global Investors raised its stake in Visa by 20.3% in the 2nd quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock valued at $1,068,613,000 after acquiring an additional 1,919,732 shares during the period. Temasek Holdings Private Ltd raised its stake in Visa by 116.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock valued at $346,532,000 after acquiring an additional 1,770,488 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Visa by 9.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after acquiring an additional 1,624,700 shares during the period. Institutional investors and hedge funds own 81.47% of the company’s stock.
In other news, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Visa’s revenue was up 9.0% on a year-over-year basis. research analysts forecast that Visa will post 4.38 EPS for the current fiscal year.
Visa declared that its Board of Directors has approved a stock buyback program on Thursday, February 1st that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the credit-card processor to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were issued a dividend of $0.21 per share. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 0.72%. Visa’s payout ratio is presently 27.91%.
A number of equities research analysts recently issued reports on the company. Vetr upgraded Visa from a “buy” rating to a “strong-buy” rating and set a $135.40 price objective on the stock in a research note on Friday. BMO Capital Markets restated a “positive” rating and issued a $148.00 price objective on shares of Visa in a research note on Monday, February 5th. Mizuho restated a “buy” rating and issued a $136.00 price objective on shares of Visa in a research note on Friday, February 2nd. Guggenheim restated a “buy” rating and issued a $136.00 price objective on shares of Visa in a research note on Friday, February 2nd. Finally, Loop Capital boosted their price objective on Visa to $142.00 and gave the company a “buy” rating in a research note 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 currently has a consensus 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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