Cypress Wealth Services LLC bought a new stake in shares of Visa (NYSE:V) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 5,318 shares of the credit-card processor’s stock, valued at approximately $606,000.
Other institutional investors have also made changes to their positions in the company. Beach Point Capital Management LP acquired a new position in Visa in the third quarter worth about $5,736,000. Calamos Wealth Management LLC grew its stake in Visa by 186.5% in the third 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 in the last quarter. Meyer Handelman Co. grew its stake in Visa by 38.3% in the third 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 in the last quarter. Ramsay Stattman Vela & Price Inc. grew its stake in Visa by 2.9% in the third quarter. Ramsay Stattman Vela & Price Inc. now owns 35,137 shares of the credit-card processor’s stock worth $3,698,000 after purchasing an additional 985 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. grew its stake in Visa by 5.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 192,993 shares of the credit-card processor’s stock worth $20,311,000 after purchasing an additional 9,142 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.
In related news, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by insiders.
A number of equities analysts have commented on the company. Keefe, Bruyette & Woods restated a “buy” rating on shares of Visa in a research note on Thursday, February 1st. BMO Capital Markets restated a “positive” rating and issued a $148.00 target price on shares of Visa in a research note on Monday, February 5th. Barclays restated a “buy” rating and issued a $145.00 target price on shares of Visa in a research note on Friday, January 5th. Mizuho restated a “buy” rating and issued a $136.00 target price on shares of Visa in a research note on Friday, February 2nd. Finally, Piper Jaffray lifted their target price on Visa from $158.00 to $164.00 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-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $135.19.
Shares of NYSE:V opened at $121.88 on Tuesday. Visa has a 12 month low of $88.75 and a 12 month high of $126.88. The company has a market cap of $248,809.86, a P/E ratio of 35.02, a PEG ratio of 1.59 and a beta of 0.98. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS 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 firm had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. analysts anticipate that Visa will post 4.39 earnings per share for the current fiscal year.
Visa announced that its Board of Directors has approved a stock buyback program on Thursday, February 1st that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the credit-card processor to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
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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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