Creative Planning raised its stake in Visa Inc (NYSE:V) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 267,265 shares of the credit-card processor’s stock after buying an additional 9,419 shares during the quarter. Creative Planning’s holdings in Visa were worth $30,474,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Krilogy Financial LLC increased its holdings in shares of Visa by 0.3% during the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after purchasing an additional 7 shares during the period. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Visa by 0.5% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock valued at $739,000 after purchasing an additional 38 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Visa by 2.4% during the second quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after purchasing an additional 40 shares during the period. Arete Wealth Advisors LLC increased its holdings in shares of Visa by 1.3% during the second quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after purchasing an additional 56 shares during the period. Finally, Comerica Securities Inc. increased its holdings in shares of Visa by 0.4% during the second quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after purchasing an additional 72 shares during the period. Institutional investors own 81.54% of the company’s stock.
Visa Inc (NYSE:V) opened at $123.20 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. Visa Inc has a 1 year low of $87.85 and a 1 year high of $126.88. The firm has a market capitalization of $278,050.00, a price-to-earnings ratio of 48.31, a P/E/G ratio of 1.65 and a beta of 1.00.
Visa declared that its board has authorized a share buyback 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 buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a $0.21 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.20. 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%. Visa’s dividend payout ratio (DPR) is 32.94%.
In related news, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction 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 is available at the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction 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 transaction, 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. Company insiders own 0.14% of the company’s stock.
A number of brokerages have recently commented on V. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Visa in a report on Thursday, February 1st. BMO Capital Markets reissued a “positive” rating and set a $148.00 price target on shares of Visa in a report on Monday, February 5th. Barclays reaffirmed a “buy” rating and set a $145.00 target price on shares of Visa in a report on Friday, January 5th. Mizuho reaffirmed a “buy” rating and set a $136.00 target price on shares of Visa in a report on Friday, February 2nd. Finally, Piper Jaffray Companies lifted their target price on Visa from $158.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $134.14.
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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