Strategic Financial Concepts LLC lifted its holdings in Visa Inc. (NYSE:V - Free Report) by 112.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,398 shares of the credit-card processor's stock after buying an additional 1,795 shares during the quarter. Strategic Financial Concepts LLC's holdings in Visa were worth $1,074,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of V. Swedbank AB lifted its position in shares of Visa by 10.7% in the 3rd quarter. Swedbank AB now owns 2,059,111 shares of the credit-card processor's stock worth $566,153,000 after buying an additional 199,440 shares during the last quarter. Howard Capital Management Group LLC increased its holdings in shares of Visa by 0.6% in the 3rd quarter. Howard Capital Management Group LLC now owns 106,355 shares of the credit-card processor's stock worth $29,242,000 after acquiring an additional 610 shares during the period. Trilogy Capital Inc. increased its holdings in shares of Visa by 1.3% in the 3rd quarter. Trilogy Capital Inc. now owns 3,213 shares of the credit-card processor's stock worth $883,000 after acquiring an additional 40 shares during the period. Castleview Partners LLC increased its holdings in shares of Visa by 4.0% in the 3rd quarter. Castleview Partners LLC now owns 6,442 shares of the credit-card processor's stock worth $1,771,000 after acquiring an additional 246 shares during the period. Finally, Marino Stram & Associates LLC increased its holdings in shares of Visa by 3.8% in the 3rd quarter. Marino Stram & Associates LLC now owns 3,547 shares of the credit-card processor's stock worth $975,000 after acquiring an additional 131 shares during the period. 82.15% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on the stock. Raymond James reaffirmed an "outperform" rating and issued a $393.00 price objective (up previously from $374.00) on shares of Visa in a report on Friday, January 31st. Royal Bank of Canada increased 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. William Blair reaffirmed an "outperform" rating on shares of Visa in a report on Friday, January 31st. Susquehanna increased their price objective on shares of Visa from $395.00 to $410.00 and gave the stock a "positive" rating in a report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $355.31.
Check Out Our Latest Stock Analysis on V
Visa Price Performance
Shares of V traded down $2.22 during mid-day trading on Friday, hitting $348.27. The company's stock had a trading volume of 6,910,504 shares, compared to its average volume of 5,753,988. The firm has a 50-day moving average price of $328.47 and a 200 day moving average price of $301.39. The stock has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.36 and a beta of 0.97. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $357.15.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, research analysts predict that Visa Inc. will post 11.3 EPS for the current fiscal year.
Visa Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, February 11th. Visa's payout ratio is 23.79%.
Insiders Place Their Bets
In related news, General Counsel Julie B. Rottenberg sold 2,572 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $340.00, for a total transaction of $874,480.00. Following the transaction, the general counsel now owns 11,925 shares of the company's stock, valued at approximately $4,054,500. This trade represents a 17.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total transaction of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold a total of 55,885 shares of company stock worth $19,161,447 over the last ninety days. 0.13% of the stock is currently owned by company insiders.
Visa Company Profile
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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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