Stralem & Co. Inc. lessened its stake in shares of Visa Inc (NYSE:V) by 22.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 175,440 shares of the credit-card processor’s stock after selling 51,235 shares during the quarter. Visa comprises about 3.4% of Stralem & Co. Inc.’s holdings, making the stock its 9th biggest holding. Stralem & Co. Inc.’s holdings in Visa were worth $20,004,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of V. Peavine Capital LLC acquired a new position in shares of Visa in the 4th quarter valued at $200,000. National Pension Service increased its holdings in shares of Visa by 2.5% in the 4th quarter. National Pension Service now owns 1,509,434 shares of the credit-card processor’s stock valued at $172,106,000 after acquiring an additional 36,721 shares during the period. Asset Dedication LLC increased its holdings in shares of Visa by 23.1% in the 4th quarter. Asset Dedication LLC now owns 14,035 shares of the credit-card processor’s stock valued at $1,593,000 after acquiring an additional 2,637 shares during the period. E&G Advisors LP increased its holdings in shares of Visa by 89.0% in the 4th quarter. E&G Advisors LP now owns 5,308 shares of the credit-card processor’s stock valued at $605,000 after acquiring an additional 2,500 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of Visa by 25.7% in the 4th quarter. Bank of Montreal Can now owns 4,427,679 shares of the credit-card processor’s stock valued at $504,842,000 after acquiring an additional 904,773 shares during the period. Institutional investors and hedge funds 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 quick ratio of 2.07 and a current ratio of 2.07. Visa Inc has a 12 month low of $87.85 and a 12 month high of $126.88. The firm has a market cap of $278,050.00, a price-to-earnings ratio of 48.31, a PEG ratio of 1.65 and a beta of 1.00.
Visa declared that its board has authorized a share buyback program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication 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. Stockholders of record on Friday, February 16th were paid a dividend of $0.21 per share. 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 dividend on an annualized basis and a dividend yield of 0.68%. Visa’s dividend payout ratio is 32.94%.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of the company’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 transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald lifted their target price on shares of Visa to $141.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Vetr cut shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 target price on the stock. in a report on Monday, January 8th. Cowen reaffirmed a “buy” rating and issued a $129.00 target price on shares of Visa in a report on Friday, January 12th. Loop Capital lifted their target price on shares of Visa to $142.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Morgan Stanley lifted their target price on shares of Visa from $137.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target 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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