CIBC World Markets Inc. increased its stake in Visa (NYSE:V) by 9.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 364,097 shares of the credit-card processor’s stock after buying an additional 30,370 shares during the period. CIBC World Markets Inc.’s holdings in Visa were worth $41,514,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of V. Fundsmith LLP boosted its stake in Visa by 5.3% during the 2nd quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after purchasing an additional 262,930 shares during the last quarter. Beach Point Capital Management LP purchased a new stake in Visa during the 3rd quarter valued at $5,736,000. Calamos Wealth Management LLC boosted its stake in Visa by 186.5% during the 3rd quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock valued at $7,211,000 after purchasing an additional 44,609 shares during the last quarter. Gs Investments Inc. purchased a new stake in Visa during the 2nd quarter valued at $2,408,000. Finally, Meyer Handelman Co. boosted its stake in Visa by 38.3% during the 3rd quarter. Meyer Handelman Co. now owns 22,124 shares of the credit-card processor’s stock valued at $2,329,000 after purchasing an additional 6,124 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.
Shares of Visa stock opened at $117.70 on Friday. Visa has a one year low of $88.13 and a one year high of $126.88. The firm has a market capitalization of $249,716.50, a P/E ratio of 33.82, a P/E/G ratio of 1.59 and a beta of 0.99. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa announced that its board has approved 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. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Several analysts have commented on the company. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research note on Saturday. Vetr downgraded Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 target price on the stock. in a research note on Thursday. ValuEngine raised Visa from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Sanford C. Bernstein initiated coverage on Visa in a report on Tuesday, March 27th. They set an “outperform” rating and a $143.00 price target on the stock. Finally, BMO Capital Markets reissued a “positive” rating and set a $148.00 price target on shares of Visa in a report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average price target of $134.97.
In related news, EVP Lynne Biggar sold 1,712 shares of the firm’s 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.
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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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