Gateway Investment Advisers LLC cut its holdings in Visa Inc (NYSE:V) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,169,250 shares of the credit-card processor’s stock after selling 24,955 shares during the period. Visa makes up approximately 1.1% of Gateway Investment Advisers LLC’s portfolio, making the stock its 15th biggest position. Gateway Investment Advisers LLC owned approximately 0.06% of Visa worth $133,318,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Krilogy Financial LLC increased its holdings in Visa by 0.3% during the 2nd quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after purchasing an additional 7 shares in the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in Visa by 0.5% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after purchasing an additional 38 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Visa by 2.4% during the 2nd quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock worth $160,000 after purchasing an additional 40 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in Visa by 1.3% during the 2nd quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock worth $399,000 after purchasing an additional 56 shares in the last quarter. Finally, Comerica Securities Inc. boosted its stake 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 worth $1,736,000 after buying an additional 72 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods restated a “buy” rating on shares of Visa in a research note on Thursday, February 1st. KeyCorp boosted their target price on Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Cantor Fitzgerald boosted their target price on Visa to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Citigroup reiterated a “buy” rating and issued a $145.00 price objective (up previously from $136.00) on shares of Visa in a research note on Monday, January 29th. Finally, Oppenheimer upped their price objective on Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $134.14.
Visa (NYSE:V) last released its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 earnings per share. research analysts expect that Visa Inc will post 4.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is currently 32.94%.
Visa declared that its board has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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 legal filing with the SEC, which is accessible through this link. 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 directly owns 76,202 shares in the company, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
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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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