National Pension Service raised its position in shares of Visa Inc (NYSE:V) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,509,434 shares of the credit-card processor’s stock after purchasing an additional 36,721 shares during the quarter. Visa accounts for 0.9% of National Pension Service’s portfolio, making the stock its 22nd largest position. National Pension Service owned approximately 0.07% of Visa worth $172,106,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of V. Krilogy Financial LLC lifted its holdings in shares of Visa by 0.3% in the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after buying an additional 7 shares during the period. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Visa by 0.5% in the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock valued at $739,000 after buying an additional 38 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Visa by 2.4% in the 2nd quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after buying an additional 40 shares during the period. Arete Wealth Advisors LLC lifted its holdings in shares of Visa by 1.3% in the 2nd quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after buying an additional 56 shares during the period. Finally, Comerica Securities Inc. lifted its holdings in shares of Visa by 0.4% in the 2nd quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.
Visa Inc (NYSE:V) opened at $124.24 on Tuesday. Visa Inc has a fifty-two week low of $87.85 and a fifty-two week high of $126.88. The company has a market capitalization of $280,400.00, a P/E ratio of 48.72, a price-to-earnings-growth ratio of 1.65 and a beta of 1.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is presently 32.94%.
Visa announced that its board has initiated a share repurchase plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
V has been the subject of a number of analyst reports. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price target on Visa and gave the stock a “buy” rating in a report on Monday, January 8th. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a report on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $141.00 price target on shares of Visa in a report on Friday, December 22nd. Finally, Cowen reaffirmed a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Two research 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’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $134.14.
In other news, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders have sold 57,634 shares of company stock valued at $6,562,157 in the last three months. Insiders own 0.14% of the company’s stock.
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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