CENTRAL TRUST Co raised its stake in shares of Visa (NYSE:V) by 7.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 60,770 shares of the credit-card processor’s stock after purchasing an additional 4,249 shares during the period. CENTRAL TRUST Co’s holdings in Visa were worth $6,929,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in V. Krilogy Financial LLC boosted its stake in shares of Visa by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after buying an additional 7 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Visa by 0.5% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after buying an additional 38 shares during the last quarter. Westside Investment Management Inc. lifted its stake in Visa by 2.4% in the second quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after purchasing an additional 40 shares during the last quarter. Arete Wealth Advisors LLC lifted its stake in Visa by 1.3% in the second quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after purchasing an additional 56 shares during the last quarter. Finally, Comerica Securities Inc. lifted its stake in Visa by 0.4% in the second quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after purchasing an additional 72 shares during the last quarter. 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 company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.
Several research firms recently commented on V. Cantor Fitzgerald upped their price objective on Visa to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $121.05 price objective on the stock. in a research note on Monday, January 8th. Cowen reiterated a “buy” rating and issued a $129.00 price objective on shares of Visa in a research note on Friday, January 12th. Loop Capital upped their price objective on Visa to $142.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley upped their price objective on Visa from $137.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $134.14.
Visa (V) opened at $123.21 on Tuesday. The firm has a market cap of $256,598.69, a price-to-earnings ratio of 40.93, a PEG ratio of 1.64 and a beta of 0.99. Visa has a 1-year low of $87.85 and a 1-year high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.86 billion for 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%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. research analysts expect that Visa will post 4.38 EPS for the current year.
Visa declared that its Board of Directors has initiated a stock repurchase 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 purchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were issued a $0.21 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is presently 27.91%.
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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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