King Luther Capital Management Corp lifted its position in shares of Visa Inc (NYSE:V) by 2.7% during the third quarter, HoldingsChannel reports. The firm owned 707,251 shares of the credit-card processor’s stock after acquiring an additional 18,911 shares during the period. King Luther Capital Management Corp’s holdings in Visa were worth $74,431,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its position in Visa by 159.7% in the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock worth $909,979,000 after acquiring an additional 5,966,991 shares during the period. Vanguard Group Inc. raised its position in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after acquiring an additional 2,628,148 shares during the period. Capital Research Global Investors raised its position in Visa by 20.3% in the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after acquiring an additional 1,919,732 shares during the period. Bank of New York Mellon Corp raised its position in Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after acquiring an additional 1,624,700 shares during the period. Finally, Prudential Financial Inc. raised its position in Visa by 56.1% in the third quarter. Prudential Financial Inc. now owns 4,023,202 shares of the credit-card processor’s stock worth $423,401,000 after acquiring an additional 1,445,091 shares during the period. 81.28% of the stock is currently owned by institutional investors.
Visa Inc (NYSE V) opened at $121.85 on Monday. The company has a market cap of $276,140.00, a P/E ratio of 40.35, a P/E/G ratio of 1.61 and a beta of 1.03. Visa Inc has a 12 month low of $86.98 and a 12 month 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 (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. Visa’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.86 earnings per share. equities analysts forecast that Visa Inc will post 4.37 EPS for the current year.
Visa declared that its board has approved a share 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s payout ratio is currently 27.81%.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the transaction, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. In the last three months, insiders sold 59,780 shares of company stock valued at $6,802,702. Corporate insiders own 0.14% of the company’s stock.
Several brokerages have commented on V. Guggenheim reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Visa in a research report on Friday, February 2nd. BMO Capital Markets reaffirmed a “positive” rating and issued a $148.00 price objective on shares of Visa in a research report on Monday, February 5th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $126.37 target price for the company in a research note on Monday, February 5th. Nomura reduced their target price on shares of Visa from $148.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, Loop Capital lifted their target price on shares of Visa to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $133.85.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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