Kessler Investment Group LLC increased its holdings in Visa Inc (NYSE:V) by 17,886.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,188 shares of the credit-card processor’s stock after purchasing an additional 16,098 shares during the period. Visa accounts for 2.3% of Kessler Investment Group LLC’s investment portfolio, making the stock its 17th biggest position. Kessler Investment Group LLC’s holdings in Visa were worth $1,846,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Trust Co lifted its stake in shares of Visa by 2.5% in the third quarter. Trust Co now owns 36,614 shares of the credit-card processor’s stock worth $3,853,000 after acquiring an additional 895 shares in the last quarter. Capital City Trust Co. FL lifted its stake in shares of Visa by 6.8% in the fourth quarter. Capital City Trust Co. FL now owns 20,369 shares of the credit-card processor’s stock worth $2,144,000 after acquiring an additional 1,301 shares in the last quarter. Patriot Wealth Management Inc. lifted its stake in shares of Visa by 1.6% in the fourth quarter. Patriot Wealth Management Inc. now owns 39,271 shares of the credit-card processor’s stock worth $4,478,000 after acquiring an additional 617 shares in the last quarter. Grassi Investment Management lifted its stake in shares of Visa by 3.2% in the fourth quarter. Grassi Investment Management now owns 110,233 shares of the credit-card processor’s stock worth $12,569,000 after acquiring an additional 3,376 shares in the last quarter. Finally, Waverton Investment Management Ltd lifted its stake in shares of Visa by 15.8% in the fourth quarter. Waverton Investment Management Ltd now owns 797,112 shares of the credit-card processor’s stock worth $90,887,000 after acquiring an additional 108,667 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on V. Citigroup reaffirmed a “buy” rating and set a $136.00 target price (up from $124.00) on shares of Visa in a report on Friday, January 12th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $126.37 target price for the company in a report on Monday, February 5th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Thursday, January 25th. Cantor Fitzgerald reissued a “buy” rating and issued a $123.00 price objective on shares of Visa in a report on Monday, January 29th. Finally, Barclays increased their price objective on Visa from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. Visa presently has a consensus rating of “Buy” and a consensus target price of $134.14.
Shares of Visa Inc (NYSE V) traded down $0.62 during trading hours on Wednesday, hitting $122.58. The stock had a trading volume of 7,849,408 shares, compared to its average volume of 9,010,000. The firm has a market capitalization of $276,650.00, a P/E ratio of 48.07, a P/E/G ratio of 1.64 and a beta of 1.00. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. Visa Inc has a 12 month low of $87.85 and a 12 month high of $126.88.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. research analysts predict that Visa Inc will post 4.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were paid a dividend of $0.21 per share. This is a boost from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is currently 32.94%.
Visa announced that its board has authorized a stock buyback program on Thursday, February 1st that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the transaction, the executive vice president now owns 76,202 shares in the company, valued at $8,661,119.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. 0.14% of the stock is owned by company 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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