Brooklyn Investment Group increased its stake in shares of Visa Inc. (NYSE:V - Free Report) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,910 shares of the credit-card processor's stock after purchasing an additional 943 shares during the quarter. Visa makes up 1.1% of Brooklyn Investment Group's holdings, making the stock its 14th largest position. Brooklyn Investment Group's holdings in Visa were worth $3,764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in V. Custom Index Systems LLC acquired a new stake in Visa in the third quarter worth about $731,000. Copley Financial Group Inc. acquired a new stake in Visa in the 3rd quarter worth approximately $616,000. FORA Capital LLC purchased a new stake in Visa during the 3rd quarter worth approximately $7,987,000. Chicago Capital LLC increased its stake in Visa by 5.2% during the 3rd quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor's stock valued at $111,331,000 after purchasing an additional 20,023 shares in the last quarter. Finally, Nexus Investment Management ULC raised its holdings in shares of Visa by 5,034.0% in the third quarter. Nexus Investment Management ULC now owns 56,371 shares of the credit-card processor's stock worth $15,499,000 after buying an additional 55,273 shares during the last quarter. Institutional investors own 82.15% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on V shares. Citigroup upped their target price on Visa from $326.00 to $354.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. BMO Capital Markets upped their price objective on Visa from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Robert W. Baird lifted their target price on shares of Visa from $330.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Mizuho boosted their target price on shares of Visa from $279.00 to $292.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Visa from $335.00 to $360.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Four investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $331.92.
View Our Latest Stock Report on Visa
Insider Buying and Selling
In other news, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.
Visa Trading Up 0.9 %
Visa stock traded up $2.72 during trading on Friday, reaching $319.97. The company had a trading volume of 5,746,152 shares, compared to its average volume of 5,703,089. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $321.61. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The stock's 50 day moving average price is $313.41 and its two-hundred day moving average price is $288.59. The firm has a market capitalization of $596.06 billion, a price-to-earnings ratio of 32.88, a PEG ratio of 2.06 and a beta of 0.96.
Visa (NYSE:V - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion during the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm's quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.33 earnings per share. As a group, equities analysts expect that Visa Inc. will post 11.22 earnings per share for the current fiscal year.
Visa Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This is an increase from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. Visa's dividend payout ratio is presently 24.25%.
About Visa
(
Free Report)
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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