Oak Asset Management LLC boosted its position in Visa Inc (NYSE:V) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,982 shares of the credit-card processor’s stock after purchasing an additional 100 shares during the quarter. Visa comprises approximately 1.2% of Oak Asset Management LLC’s investment portfolio, making the stock its 29th biggest holding. Oak Asset Management LLC’s holdings in Visa were worth $1,581,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in V. Indiana Trust & Investment Management CO raised its stake in Visa by 1.1% during the 4th quarter. Indiana Trust & Investment Management CO now owns 7,352 shares of the credit-card processor’s stock valued at $970,000 after purchasing an additional 83 shares during the period. Rehmann Capital Advisory Group raised its stake in Visa by 0.8% during the 3rd quarter. Rehmann Capital Advisory Group now owns 10,088 shares of the credit-card processor’s stock valued at $1,514,000 after purchasing an additional 85 shares during the period. Chicago Partners Investment Group LLC raised its stake in Visa by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,863 shares of the credit-card processor’s stock valued at $1,090,000 after purchasing an additional 100 shares during the period. McQueen Ball & Associates Inc. raised its stake in Visa by 6.8% during the 4th quarter. McQueen Ball & Associates Inc. now owns 1,584 shares of the credit-card processor’s stock valued at $209,000 after purchasing an additional 101 shares during the period. Finally, North Star Investment Management Corp. raised its stake in Visa by 3.3% during the 4th quarter. North Star Investment Management Corp. now owns 3,337 shares of the credit-card processor’s stock valued at $440,000 after purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 80.38% of the company’s stock.
Visa stock opened at $154.96 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $312.07 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 1.73 and a beta of 1.00. Visa Inc has a one year low of $116.03 and a one year high of $156.82.
Visa (NYSE:V) last posted its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.05. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.41 billion. Visa had a net margin of 50.61% and a return on equity of 39.32%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.08 earnings per share. On average, sell-side analysts predict that Visa Inc will post 5.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 5th. Shareholders of record on Friday, February 15th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.65%. The ex-dividend date was Thursday, February 14th. Visa’s payout ratio is 21.69%.
In other Visa news, EVP Tullier Kelly Mahon sold 91,046 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $156.29, for a total transaction of $14,229,579.34. Following the completion of the sale, the executive vice president now directly owns 120,602 shares in the company, valued at $18,848,886.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Ellen Richey sold 81,005 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $139.99, for a total transaction of $11,339,889.95. The disclosure for this sale can be found here. Insiders have sold 193,531 shares of company stock worth $28,797,949 over the last three months. Company insiders own 0.17% of the company’s stock.
Several analysts have issued reports on the stock. Wedbush boosted their target price on shares of Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Raymond James reissued an “outperform” rating and set a $152.00 target price (down from $167.00) on shares of Visa in a research note on Thursday, January 31st. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $178.00 price target on shares of Visa in a research note on Friday, December 21st. SunTrust Banks reaffirmed an “outperform” rating and issued a $250.00 price target on shares of Visa in a research note on Friday, February 1st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $160.00 price target on shares of Visa in a research note on Thursday, January 31st. One analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the stock. Visa has an average rating of “Buy” and a consensus price target of $163.23.
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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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