Massmutual Trust Co. FSB ADV bought a new position in shares of Visa Inc (NYSE:V) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 13,973 shares of the credit-card processor’s stock, valued at approximately $1,090,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in V. Russell Investments Group Ltd. purchased a new stake in shares of Visa during the fourth quarter worth about $312,745,000. Asset Management One Co. Ltd. raised its stake in shares of Visa by 719.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,445,162 shares of the credit-card processor’s stock worth $268,897,000 after buying an additional 3,024,860 shares during the last quarter. State Street Corp raised its stake in shares of Visa by 2.6% in the fourth quarter. State Street Corp now owns 82,748,981 shares of the credit-card processor’s stock worth $6,456,063,000 after buying an additional 2,111,820 shares during the last quarter. Third Point LLC purchased a new stake in shares of Visa during the third quarter worth about $173,670,000. Finally, Bessemer Group Inc. raised its stake in shares of Visa by 1,811.3% in the fourth quarter. Bessemer Group Inc. now owns 2,041,280 shares of the credit-card processor’s stock worth $159,260,000 after buying an additional 1,934,482 shares during the last quarter. 80.14% of the stock is currently owned by hedge funds and other institutional investors.
Visa Inc (NYSE:V) opened at 90.24 on Friday. Visa Inc has a 52-week low of $72.77 and a 52-week high of $90.63. The firm has a market capitalization of $209.73 billion, a P/E ratio of 34.98 and a beta of 1.00. The company has a 50 day moving average price of $87.29 and a 200 day moving average price of $82.61.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, February 2nd. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The business earned $4.46 billion during the quarter, compared to the consensus estimate of $4.29 billion. Visa had a net margin of 38.30% and a return on equity of 26.48%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, equities analysts forecast that Visa Inc will post $3.32 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 7th. Shareholders of record on Friday, February 17th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $0.66 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is 26.09%.
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A number of brokerages recently issued reports on V. Deutsche Bank AG reiterated a “buy” rating and issued a $103.00 price target on shares of Visa in a report on Tuesday, March 14th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $104.00 price target on shares of Visa in a report on Saturday, March 11th. Morgan Stanley reiterated an “overweight” rating on shares of Visa in a report on Wednesday, March 8th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $91.56 price target for the company in a report on Monday, February 27th. Finally, Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Tuesday, February 28th. One investment analyst has rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company. Visa presently has an average rating of “Buy” and a consensus price target of $94.23.
In other news, EVP William M. Sheedy sold 125,372 shares of Visa stock in a transaction on Monday, February 6th. The shares were sold at an average price of $85.74, for a total transaction of $10,749,395.28. Following the completion of the sale, the executive vice president now directly owns 365,769 shares of the company’s stock, valued at approximately $31,361,034.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 11,139 shares of Visa stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $85.95, for a total transaction of $957,397.05. Following the sale, the senior vice president now directly owns 6,390 shares of the company’s stock, valued at $549,220.50. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Visa Company Profile
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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