Vanguard Group Inc. grew its holdings in shares of Visa Inc (NYSE:V) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,049,441 shares of the credit-card processor’s stock after purchasing an additional 640,593 shares during the quarter. Visa comprises about 0.8% of Vanguard Group Inc.’s investment portfolio, making the stock its 10th biggest position. Vanguard Group Inc. owned approximately 6.54% of Visa worth $19,969,390,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in V. Morgan Stanley raised its holdings in Visa by 3.9% in the 3rd quarter. Morgan Stanley now owns 29,757,958 shares of the credit-card processor’s stock worth $4,466,371,000 after acquiring an additional 1,119,197 shares during the period. Legal & General Group Plc grew its position in Visa by 1.0% in the 3rd quarter. Legal & General Group Plc now owns 7,842,084 shares of the credit-card processor’s stock worth $1,177,013,000 after purchasing an additional 76,154 shares during the last quarter. Rehmann Capital Advisory Group grew its position in Visa by 15,021.0% in the 3rd quarter. Rehmann Capital Advisory Group now owns 1,512,556 shares of the credit-card processor’s stock worth $10,077,000 after purchasing an additional 1,502,553 shares during the last quarter. Albion Financial Group UT grew its position in Visa by 1.8% in the 3rd quarter. Albion Financial Group UT now owns 98,385 shares of the credit-card processor’s stock worth $14,767,000 after purchasing an additional 1,787 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its position in Visa by 4.8% in the 3rd quarter. Griffin Asset Management Inc. now owns 33,110 shares of the credit-card processor’s stock worth $4,969,000 after purchasing an additional 1,514 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
Several analysts have issued reports on the stock. restated a “buy” rating on shares of Visa in a research report on Tuesday, February 12th. Raymond James restated an “outperform” rating and issued a $152.00 price target (down from $167.00) on shares of Visa in a research report on Thursday, January 31st. Piper Jaffray Companies restated an “overweight” rating and issued a $178.00 price target on shares of Visa in a research report on Friday, December 21st. SunTrust Banks restated an “outperform” rating and issued a $250.00 price target on shares of Visa in a research report on Friday, February 1st. Finally, Barclays assumed coverage on shares of Visa in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $162.77.
In other Visa news, SVP James H. Hoffmeister sold 2,252 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $144.56, for a total value of $325,549.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP William M. Sheedy sold 13,864 shares of the business’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $144.97, for a total transaction of $2,009,864.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,121 shares of company stock worth $13,675,303. 0.17% of the stock is owned by company insiders.
Shares of Visa stock opened at $148.12 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.58. Visa Inc has a twelve month low of $116.03 and a twelve month high of $151.56. The stock has a market cap of $292.82 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 1.66 and a beta of 0.97.
Visa (NYSE:V) last issued its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. Visa had a net margin of 50.61% and a return on equity of 39.32%. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the business earned $1.08 EPS. The firm’s revenue was up 13.2% on a year-over-year basis. Research analysts forecast that Visa Inc will post 5.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Friday, February 15th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, February 14th. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio (DPR) is currently 21.69%.
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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