Resources Management Corp CT ADV purchased a new position in Visa Inc (NYSE:V) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 9,499 shares of the credit-card processor’s stock, valued at approximately $1,634,000.
Several other institutional investors have also made changes to their positions in the business. Krane Funds Advisors LLC acquired a new stake in shares of Visa in the second quarter valued at approximately $26,000. Personal Wealth Partners bought a new stake in shares of Visa in the second quarter worth $30,000. Mcmillion Capital Management Inc. acquired a new position in Visa during the second quarter worth $38,000. MRA Associates USA LLC acquired a new position in Visa during the second quarter worth $42,000. Finally, Selective Wealth Management Inc. acquired a new position in Visa during the third quarter worth $47,000. Institutional investors own 80.58% of the company’s stock.
Several equities research analysts have issued reports on the stock. Raymond James lifted their price target on shares of Visa from $193.00 to $205.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Citigroup raised their price objective on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a report on Monday, September 9th. Morgan Stanley restated an “overweight” rating and issued a $207.00 price objective on shares of Visa in a report on Friday, October 25th. Wedbush set a $187.00 target price on Visa and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, BMO Capital Markets upped their target price on Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Visa currently has an average rating of “Buy” and a consensus price target of $199.04.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts forecast that Visa Inc will post 6.21 earnings per share for the current year.
The firm also recently announced a dividend, which was paid on Tuesday, December 3rd. Investors of record on Friday, November 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 14th. Visa’s payout ratio is presently 22.06%.
In other news, EVP William M. Sheedy sold 21,164 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the completion of the sale, the executive vice president now owns 227,126 shares in the company, valued at $40,589,687.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $183.72, for a total value of $1,286,040.00. Following the completion of the transaction, the chief executive officer now directly owns 84,788 shares in the company, valued at approximately $15,577,251.36. The disclosure for this sale can be found here. Insiders have sold a total of 51,480 shares of company stock worth $9,281,012 over the last three months. 0.17% of the stock is owned by insiders.
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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