OLD National Bancorp IN cut its stake in Visa (NYSE:V) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,844 shares of the credit-card processor’s stock after selling 15,297 shares during the period. Visa comprises approximately 1.5% of OLD National Bancorp IN’s holdings, making the stock its 11th largest holding. OLD National Bancorp IN’s holdings in Visa were worth $28,145,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of V. Edgemoor Investment Advisors Inc. increased its holdings in Visa by 1.8% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 65,920 shares of the credit-card processor’s stock valued at $7,936,000 after purchasing an additional 1,141 shares in the last quarter. Park Avenue Securities LLC boosted its position in Visa by 20.9% in the 4th quarter. Park Avenue Securities LLC now owns 7,348 shares of the credit-card processor’s stock valued at $841,000 after buying an additional 1,268 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Visa by 5.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 214,103 shares of the credit-card processor’s stock valued at $24,412,000 after buying an additional 11,073 shares during the last quarter. Miracle Mile Advisors LLC boosted its position in Visa by 37.1% in the 4th quarter. Miracle Mile Advisors LLC now owns 10,271 shares of the credit-card processor’s stock valued at $1,171,000 after buying an additional 2,779 shares during the last quarter. Finally, C WorldWide Group Holding A S boosted its position in Visa by 1.4% in the 4th quarter. C WorldWide Group Holding A S now owns 9,206,176 shares of the credit-card processor’s stock valued at $1,049,688,000 after buying an additional 123,530 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.
NYSE:V opened at $124.20 on Monday. Visa has a 12-month low of $90.98 and a 12-month high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07. The firm has a market capitalization of $255,918.70, a PE ratio of 35.69, a P/E/G ratio of 1.63 and a beta of 0.99.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was up 9.0% on a year-over-year basis. analysts forecast that Visa will post 4.39 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th will be given a $0.21 dividend. The ex-dividend date is Thursday, May 17th. This represents a $0.84 annualized dividend and a dividend yield of 0.68%. Visa’s dividend payout ratio is currently 24.14%.
Visa declared that its board has authorized a stock buyback program on Thursday, February 1st that allows the company to buyback $7.50 billion in outstanding shares. This buyback authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
V has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating and issued a $136.00 price objective (up from $124.00) on shares of Visa in a research report on Friday, January 12th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $126.37 price objective on the stock in a research report on Monday, February 5th. Guggenheim reiterated a “buy” rating and issued a $143.00 price objective on shares of Visa in a research report on Monday, April 9th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $123.00 price objective on shares of Visa in a research report on Monday, January 29th. Three research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $135.19.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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