SNS Financial Group LLC Raises Holdings in Visa Inc (V)
SNS Financial Group LLC boosted its holdings in Visa Inc (NYSE:V) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,263 shares of the credit-card processor’s stock after acquiring an additional 687 shares during the quarter. SNS Financial Group LLC’s holdings in Visa were worth $1,090,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of V. Fort L.P. acquired a new stake in Visa during the 2nd quarter worth about $120,000. Cascade Investment Advisors Inc. acquired a new stake in Visa during the 2nd quarter worth about $132,000. Bridgeworth LLC acquired a new stake in Visa during the 2nd quarter worth about $143,000. Ruggie Capital Group acquired a new stake in Visa during the 2nd quarter worth about $164,000. Finally, Signature Estate & Investment Advisors LLC raised its holdings in Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock worth $180,000 after buying an additional 365 shares during the period. Hedge funds and other institutional investors own 80.53% of the company’s stock.
Several equities analysts have weighed in on V shares. Royal Bank of Canada lifted their target price on Visa to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Robert W. Baird lifted their target price on Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Bank of America reaffirmed a “buy” rating and set a $163.00 target price on shares of Visa in a research note on Monday, September 17th. Goldman Sachs Group cut Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price on the stock. in a research note on Monday, September 17th. Finally, Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a research note on Tuesday, September 25th. Two analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $156.09.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. As a group, equities analysts forecast that Visa Inc will post 5.33 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Friday, November 16th were paid a $0.25 dividend. This is a boost from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, November 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. Visa’s payout ratio is presently 21.69%.
In other Visa news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the sale, the executive vice president now owns 296,925 shares of the company’s stock, valued at $41,355,714. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James H. Hoffmeister sold 2,252 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $144.56, for a total value of $325,549.12. The disclosure for this sale can be found here. In the last three months, insiders sold 119,395 shares of company stock valued at $16,697,489. 0.17% of the stock is currently owned by company insiders.
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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