Kovack Advisors Inc. acquired a new position in Visa (NYSE:V) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 16,829 shares of the credit-card processor’s stock, valued at approximately $1,919,000. Visa comprises approximately 1.0% of Kovack Advisors Inc.’s portfolio, making the stock its 18th biggest holding.
A number of other large investors have also recently added to or reduced their stakes in the business. Fundsmith LLP boosted its holdings in shares of Visa by 5.3% in the 2nd quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after purchasing an additional 262,930 shares during the period. Beach Point Capital Management LP purchased a new position in shares of Visa in the 3rd quarter worth approximately $5,736,000. Calamos Wealth Management LLC boosted its holdings in shares of Visa by 186.5% in the 3rd quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock worth $7,211,000 after purchasing an additional 44,609 shares during the period. Gs Investments Inc. purchased a new position in shares of Visa in the 2nd quarter worth approximately $2,408,000. Finally, Meyer Handelman Co. boosted its holdings in shares of Visa by 38.3% in the 3rd quarter. Meyer Handelman Co. now owns 22,124 shares of the credit-card processor’s stock worth $2,329,000 after purchasing an additional 6,124 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on V. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $133.00 target price for the company in a report on Saturday. Vetr cut Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 price objective for the company. in a report on Thursday. ValuEngine upgraded Visa from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Sanford C. Bernstein assumed coverage on Visa in a report on Tuesday, March 27th. They set an “outperform” rating and a $143.00 price objective for the company. Finally, BMO Capital Markets restated a “positive” rating and set a $148.00 price objective 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 given a buy rating and one has given a strong buy rating to the stock. Visa has a consensus rating of “Buy” and an average target price of $134.97.
Visa (NYSE:V) last issued its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share 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 business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts forecast that Visa will post 4.38 EPS for the current year.
Visa declared that its board has approved a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of the company’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 Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.
Visa Company Profile
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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