Sompo Japan Nipponkoa Asset Management CO. LTD. cut its holdings in Visa (NYSE:V) by 16.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,703 shares of the credit-card processor’s stock after selling 15,220 shares during the quarter. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Visa were worth $9,088,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC increased its position in shares of Visa by 159.7% during 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 purchasing an additional 5,966,991 shares in the last quarter. 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 purchasing an additional 2,628,148 shares in the last quarter. Capital Research Global Investors increased its position in shares of Visa by 20.3% during 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 purchasing an additional 1,919,732 shares in the last quarter. Temasek Holdings Private Ltd increased its position in shares of Visa by 116.3% during the third quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock worth $346,532,000 after purchasing an additional 1,770,488 shares in the last quarter. Finally, 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 purchasing an additional 1,624,700 shares in the last quarter. Institutional investors and hedge funds own 81.53% 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 stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.
Several analysts recently commented on the company. Guggenheim reiterated a “buy” rating and set a $143.00 price target on shares of Visa in a research report on Monday, April 9th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $133.00 price target for the company in a research report on Saturday, April 7th. Vetr cut Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 price target for the company. in a research report on Thursday, April 5th. ValuEngine upgraded Visa from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, Sanford C. Bernstein assumed coverage on Visa in a research report on Tuesday, March 27th. They set an “outperform” rating and a $143.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $135.19.
Shares of Visa stock opened at $121.88 on Tuesday. Visa has a 52 week low of $88.75 and a 52 week high of $126.88. The firm has a market capitalization of $248,809.86, a PE ratio of 35.02, a price-to-earnings-growth 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 quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating 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 business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. equities analysts forecast that Visa will post 4.39 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has approved a stock buyback plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
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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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