Advisory Resource Group lifted its position in Visa Inc. (NYSE:V – Get Rating) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,844 shares of the credit-card processor’s stock after purchasing an additional 176 shares during the quarter. Advisory Resource Group’s holdings in Visa were worth $643,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. TCI Fund Management Ltd. raised its position in Visa by 41.8% during the third quarter. TCI Fund Management Ltd. now owns 19,939,311 shares of the credit-card processor’s stock valued at $4,441,482,000 after acquiring an additional 5,881,421 shares in the last quarter. GQG Partners LLC raised its position in Visa by 85.6% during the third quarter. GQG Partners LLC now owns 7,721,375 shares of the credit-card processor’s stock valued at $1,719,828,000 after acquiring an additional 3,562,125 shares in the last quarter. Brown Advisory Inc. raised its position in Visa by 51.7% during the fourth quarter. Brown Advisory Inc. now owns 9,232,310 shares of the credit-card processor’s stock valued at $2,000,734,000 after acquiring an additional 3,145,363 shares in the last quarter. Alliancebernstein L.P. raised its position in Visa by 11.8% during the third quarter. Alliancebernstein L.P. now owns 23,190,566 shares of the credit-card processor’s stock valued at $5,165,699,000 after acquiring an additional 2,446,963 shares in the last quarter. Finally, BlackRock Inc. raised its position in Visa by 1.9% during the third quarter. BlackRock Inc. now owns 126,591,271 shares of the credit-card processor’s stock valued at $28,198,208,000 after acquiring an additional 2,370,237 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
Several brokerages have commented on V. Credit Suisse Group raised their price objective on Visa from $260.00 to $265.00 and gave the company an “outperform” rating in a report on Wednesday. StockNews.com raised Visa from a “hold” rating to a “buy” rating in a report on Thursday. Cowen dropped their price objective on Visa from $276.00 to $254.00 and set an “outperform” rating on the stock in a report on Wednesday. BNP Paribas lowered Visa from an “outperform” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a report on Monday, January 10th. Finally, Raymond James raised their price objective on Visa from $265.00 to $281.00 and gave the company an “outperform” rating in a report on Friday, January 28th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Visa has a consensus rating of “Buy” and a consensus price target of $265.24.
Visa (NYSE:V – Get Rating) last released its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.14. Visa had a return on equity of 42.89% and a net margin of 51.10%. The firm had revenue of $7.19 billion during the quarter, compared to analysts’ expectations of $6.82 billion. During the same period in the previous year, the firm posted $1.38 EPS. Visa’s revenue for the quarter was up 25.5% on a year-over-year basis. On average, equities analysts forecast that Visa Inc. will post 7.13 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Investors of record on Friday, May 13th will be paid a dividend of $0.375 per share. The ex-dividend date is Thursday, May 12th. This represents a $1.50 annualized dividend and a yield of 0.70%. Visa’s payout ratio is 23.58%.
In other news, Director Robert W. Matschullat sold 1,114 shares of the company’s stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $210.94, for a total transaction of $234,987.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James H. Hoffmeister sold 1,737 shares of the company’s stock in a transaction dated Tuesday, February 1st. The stock was sold at an average price of $231.49, for a total value of $402,098.13. The disclosure for this sale can be found here. Insiders have sold a total of 49,250 shares of company stock valued at $10,951,267 over the last three months. 0.21% of the stock is currently owned by insiders.
About Visa (Get Rating)
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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