Saratoga Research & Investment Management grew its position in shares of Visa (NYSE:V) by 971.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,213 shares of the credit-card processor’s stock after purchasing an additional 2,913 shares during the period. Saratoga Research & Investment Management’s holdings in Visa were worth $366,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Visa by 2.1% during 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. BlackRock Inc. increased its position in shares of Visa by 1.3% during the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after acquiring an additional 1,440,034 shares during the period. Jennison Associates LLC increased its position in shares of Visa by 1.0% during the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after acquiring an additional 209,764 shares during the period. Bank of New York Mellon Corp increased its position in shares of Visa by 9.3% during 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, Fisher Asset Management LLC increased its position in shares of Visa by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after acquiring an additional 355,320 shares during the period. Institutional investors own 81.52% of the company’s stock.
Shares of V traded down $3.49 during mid-day trading on Friday, hitting $117.70. 8,383,796 shares of the company’s stock were exchanged, compared to its average volume of 8,650,757. Visa has a fifty-two week low of $88.13 and a fifty-two week high of $126.88. The company has a market capitalization of $242,525.22, a price-to-earnings ratio of 33.82, a price-to-earnings-growth ratio of 1.55 and a beta of 0.99. 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 announced its 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. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. equities research analysts forecast that Visa will post 4.38 EPS for the current year.
Visa announced that its Board of Directors has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Visa in a research report on Thursday, February 1st. KeyCorp upped their price objective on Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Cantor Fitzgerald increased their target price on Visa to $141.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Citigroup reissued a “buy” rating and issued a $145.00 target price (up previously from $136.00) on shares of Visa in a report on Monday, January 29th. Finally, Oppenheimer increased their target price on Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Two 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 presently has an average rating of “Buy” and a consensus target price of $134.97.
In related news, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
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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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