Asset Dedication LLC lifted its position in shares of Visa Inc (NYSE:V) by 23.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,035 shares of the credit-card processor’s stock after buying an additional 2,637 shares during the quarter. Asset Dedication LLC’s holdings in Visa were worth $1,593,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC grew its holdings in Visa by 159.7% in the second quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock valued at $909,979,000 after purchasing an additional 5,966,991 shares during the period. Vanguard Group Inc. grew its holdings in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. Capital Research Global Investors grew its holdings in Visa by 20.3% in the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock valued at $1,068,613,000 after purchasing an additional 1,919,732 shares during the period. Temasek Holdings Private Ltd grew its holdings in Visa by 116.3% in the third quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock valued at $346,532,000 after purchasing an additional 1,770,488 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after purchasing an additional 1,624,700 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.
Shares of Visa Inc (V) opened at $124.24 on Tuesday. The stock has a market cap of $280,400.00, a price-to-earnings ratio of 48.72, a P/E/G ratio of 1.65 and a beta of 1.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. Visa Inc has a twelve month low of $87.85 and a twelve month high of $126.88.
Visa announced that its board has authorized a stock repurchase plan on Thursday, February 1st that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.68%. Visa’s dividend payout ratio is currently 32.94%.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. Insiders sold 57,634 shares of company stock worth $6,562,157 over the last ninety days. 0.14% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on V. Vetr upgraded shares of Visa from a “buy” rating to a “strong-buy” rating and set a $135.40 price objective for the company in a research note on Thursday, March 1st. BMO Capital Markets reiterated a “positive” rating and set a $148.00 price objective on shares of Visa in a research note on Monday, February 5th. Mizuho reiterated a “buy” rating and set a $136.00 price objective on shares of Visa in a research note on Friday, February 2nd. Guggenheim reiterated a “buy” rating and set a $136.00 price objective on shares of Visa in a research note on Friday, February 2nd. Finally, Loop Capital boosted their price objective on shares of Visa to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. Visa has an average rating of “Buy” and a consensus target price of $134.14.
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Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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