Northstar Investment Advisors LLC bought a new stake in Visa Inc (NYSE:V) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,718 shares of the credit-card processor’s stock, valued at approximately $8,063,000.
Other hedge funds have also recently bought and sold shares of the company. Fundsmith Equity Fund L.P. purchased a new stake in Visa in the second quarter worth about $757,597,000. Baird Financial Group Inc. increased its position in Visa by 2.2% in the second quarter. Baird Financial Group Inc. now owns 944,191 shares of the credit-card processor’s stock worth $125,058,000 after buying an additional 20,084 shares in the last quarter. Lee Financial Group Hawaii Inc. increased its position in Visa by 1.6% in the second quarter. Lee Financial Group Hawaii Inc. now owns 24,147 shares of the credit-card processor’s stock worth $3,198,000 after buying an additional 388 shares in the last quarter. Credit Agricole S A increased its position in Visa by 0.8% in the second quarter. Credit Agricole S A now owns 169,611 shares of the credit-card processor’s stock worth $22,465,000 after buying an additional 1,312 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC increased its position in Visa by 2.1% in the second quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock worth $19,244,000 after buying an additional 2,930 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors.
V has been the subject of several research analyst reports. Bank of America increased their target price on Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Royal Bank of Canada increased their target price on Visa to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 5th. Robert W. Baird increased their target price on Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. Goldman Sachs Group cut Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price for the company. in a research report on Monday, September 17th. Finally, Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Visa has a consensus rating of “Buy” and an average target price of $156.09.
In other news, EVP William M. Sheedy sold 13,864 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $144.97, for a total value of $2,009,864.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the firm’s stock in a transaction that occurred on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total value of $484,774.01. Following the completion of the sale, the executive vice president now directly owns 241,983 shares of the company’s stock, valued at $32,200,677.81. The disclosure for this sale can be found here. Insiders have sold a total of 119,395 shares of company stock valued at $16,697,489 in the last 90 days. 0.14% of the stock is currently owned by company insiders.
NYSE V opened at $137.11 on Friday. The company has a market cap of $279.64 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.51 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. Visa Inc has a 1-year low of $111.02 and a 1-year high of $151.56.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. As a group, research analysts forecast that Visa Inc will post 5.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Thursday, November 15th. This is a boost from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is currently 21.69%.
COPYRIGHT VIOLATION NOTICE: “Northstar Investment Advisors LLC Invests $8.06 Million in Visa Inc (V) Stock” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.dispatchtribunal.com/2018/12/08/northstar-investment-advisors-llc-invests-8-06-million-in-visa-inc-v-stock.html.
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.
Further Reading: Balance Sheet
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.