Corundum Group Inc. increased its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 42.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,543 shares of the credit-card processor's stock after acquiring an additional 1,937 shares during the quarter. Corundum Group Inc.'s holdings in Visa were worth $2,068,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. AMI Investment Management Inc. boosted its stake in Visa by 9.2% during the fourth quarter. AMI Investment Management Inc. now owns 16,104 shares of the credit-card processor's stock worth $5,090,000 after acquiring an additional 1,354 shares in the last quarter. True Link Financial Advisors LLC purchased a new stake in Visa during the 4th quarter valued at approximately $208,000. UMB Bank n.a. grew its holdings in shares of Visa by 0.5% in the fourth quarter. UMB Bank n.a. now owns 146,346 shares of the credit-card processor's stock valued at $46,251,000 after purchasing an additional 792 shares in the last quarter. Strong Tower Advisory Services boosted its stake in Visa by 3.1% during the fourth quarter. Strong Tower Advisory Services now owns 20,865 shares of the credit-card processor's stock worth $6,594,000 after buying an additional 624 shares during the period. Finally, M.E. Allison & CO. Inc. bought a new stake in shares of Visa during the fourth quarter worth $452,000. Hedge funds and other institutional investors own 82.15% of the company's stock.
Visa Stock Up 0.2 %
Shares of Visa stock traded up $0.68 during trading hours on Wednesday, hitting $324.31. 2,997,574 shares of the company's stock traded hands, compared to its average volume of 5,517,379. The stock has a 50 day simple moving average of $313.86 and a 200-day simple moving average of $289.47. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a market cap of $604.16 billion, a PE ratio of 33.33, a PEG ratio of 2.15 and a beta of 0.96. Visa Inc. has a twelve month low of $252.70 and a twelve month high of $325.74.
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 the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.49 billion. During the same quarter in the prior year, the company earned $2.33 earnings per share. The firm's revenue was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Visa Inc. will post 11.2 earnings per share for the current fiscal year.
Visa Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.73%. This is a positive change from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa's dividend payout ratio (DPR) is presently 24.25%.
Insider Buying and Selling
In related news, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now directly owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on V shares. Susquehanna upped their price objective on shares of Visa from $339.00 to $375.00 and gave the stock a "positive" rating in a research report on Wednesday, December 11th. Macquarie upped their price objective on shares of Visa from $300.00 to $335.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. TD Cowen increased their price target on shares of Visa from $318.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Bank of America upped their price objective on shares of Visa from $314.00 to $331.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Royal Bank of Canada upped their price objective on shares of Visa from $311.00 to $322.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $332.81.
Read Our Latest Analysis on V
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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