Gamco Investors INC. ET AL lifted its holdings in shares of Visa Inc (NYSE:V) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,785 shares of the credit-card processor’s stock after purchasing an additional 470 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Visa were worth $5,381,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Visa by 0.5% during the third quarter. Vanguard Group Inc. now owns 133,049,441 shares of the credit-card processor’s stock worth $19,969,390,000 after purchasing an additional 640,593 shares during the period. Vanguard Group Inc increased its holdings in shares of Visa by 0.5% during the third quarter. Vanguard Group Inc now owns 133,049,441 shares of the credit-card processor’s stock worth $19,969,390,000 after purchasing an additional 640,593 shares during the period. BlackRock Inc. increased its holdings in shares of Visa by 0.8% during the third quarter. BlackRock Inc. now owns 122,485,390 shares of the credit-card processor’s stock worth $18,383,832,000 after purchasing an additional 936,305 shares during the period. FMR LLC increased its stake in Visa by 1.7% in the third quarter. FMR LLC now owns 86,917,222 shares of the credit-card processor’s stock valued at $13,045,406,000 after acquiring an additional 1,450,809 shares during the last quarter. Finally, Morgan Stanley increased its stake in Visa by 3.9% in the third quarter. Morgan Stanley now owns 29,757,958 shares of the credit-card processor’s stock valued at $4,466,371,000 after acquiring an additional 1,119,197 shares during the last quarter. 80.94% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on V. Jefferies Financial Group lifted their price objective on shares of Visa from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, March 25th. Wedbush lifted their price objective on shares of Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, March 14th. Oppenheimer lifted their price objective on shares of Visa from $162.00 to $176.00 and gave the company an “outperform” rating in a research note on Wednesday. Nomura lifted their price objective on shares of Visa from $151.00 to $175.00 in a research note on Thursday, April 11th. Finally, Deutsche Bank lifted their price objective on shares of Visa from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $169.68.
Visa (NYSE:V) last issued its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. Visa had a net margin of 50.61% and a return on equity of 39.32%. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the business posted $1.08 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Equities analysts anticipate that Visa Inc will post 5.32 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. Visa’s dividend payout ratio is currently 21.69%.
In other news, Vice Chairman Ellen Richey sold 81,005 shares of Visa stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $139.99, for a total transaction of $11,339,889.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 6,480 shares of Visa stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $151.00, for a total transaction of $978,480.00. Following the transaction, the senior vice president now owns 6,480 shares in the company, valued at approximately $978,480. The disclosure for this sale can be found here. Insiders sold 193,531 shares of company stock worth $28,797,949 in the last 90 days. Company insiders own 0.17% of the company’s stock.
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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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