Visa Inc (V) Shares Bought by Acadian Asset Management LLC
Acadian Asset Management LLC grew its holdings in shares of Visa Inc (NYSE:V) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,227 shares of the credit-card processor’s stock after purchasing an additional 5,087 shares during the period. Acadian Asset Management LLC’s holdings in Visa were worth $10,745,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Krilogy Financial LLC grew its holdings in Visa by 0.3% during the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock worth $241,000 after acquiring an additional 7 shares during the period. Raab & Moskowitz Asset Management LLC grew its holdings in Visa by 0.5% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after acquiring an additional 38 shares during the period. Westside Investment Management Inc. grew its holdings in Visa by 2.4% during the second quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock worth $160,000 after acquiring an additional 40 shares during the period. Arete Wealth Advisors LLC grew its holdings in Visa by 1.3% during the second quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock worth $399,000 after acquiring an additional 56 shares during the period. Finally, Comerica Securities Inc. grew its holdings in Visa by 0.4% during the second quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock worth $1,736,000 after acquiring an additional 72 shares during the period. 81.54% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on V. Guggenheim reaffirmed a “buy” rating and set a $136.00 target price on shares of Visa in a report on Friday, February 2nd. Morgan Stanley lifted their target price on Visa from $137.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. BMO Capital Markets reaffirmed a “positive” rating and set a $148.00 target price on shares of Visa in a report on Monday, February 5th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $141.00 target price on shares of Visa in a report on Friday, December 22nd. Finally, Mizuho reaffirmed a “buy” rating and set a $136.00 target price on shares of Visa in a report on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and an average price target of $134.14.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. equities analysts predict that Visa Inc will post 4.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is presently 32.94%.
Visa announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 1st that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the credit-card processor to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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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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