Coastline Trust Co grew its holdings in Visa Inc (NYSE:V) by 35.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,680 shares of the credit-card processor’s stock after buying an additional 4,400 shares during the period. Coastline Trust Co’s holdings in Visa were worth $1,902,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. BlackRock Inc. increased its stake in shares of Visa by 1.3% during the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. Jennison Associates LLC increased its stake in Visa by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after acquiring an additional 209,764 shares during the period. Bank of New York Mellon Corp increased its stake in Visa by 9.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after acquiring an additional 1,624,700 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Visa by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after acquiring an additional 355,320 shares during the period. 81.54% of the stock is owned by institutional investors.
V has been the topic of a number of recent research reports. Susquehanna Bancshares raised their price objective on Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Cowen reiterated a “buy” rating and issued a $129.00 price target on shares of Visa in a research note on Friday, January 12th. Citigroup reiterated a “buy” rating and issued a $136.00 price target (up previously from $124.00) on shares of Visa in a research note on Friday, January 12th. Stephens reiterated a “buy” rating and issued a $135.00 price target on shares of Visa in a research note on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $141.00 price target on shares of Visa in a research note on Friday, December 22nd. Two analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $134.14.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. research analysts forecast that Visa Inc will post 4.36 earnings per share for the current year.
The business 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 of this dividend was Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.68%. Visa’s payout ratio is presently 32.94%.
Visa declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction dated 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 $8,661,119.32. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by 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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