Cpcm LLC bought a new position in Visa Inc (NYSE:V) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 34,892 shares of the credit-card processor’s stock, valued at approximately $2,722,000.
Several other institutional investors also recently modified their holdings of V. State Street Corp boosted its stake in 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 in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Visa by 0.5% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 51,126,744 shares of the credit-card processor’s stock worth $4,228,182,000 after buying an additional 239,481 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Visa by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 29,495,466 shares of the credit-card processor’s stock worth $2,441,561,000 after buying an additional 1,061,427 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Visa by 3.7% in the third quarter. BlackRock Fund Advisors now owns 27,427,533 shares of the credit-card processor’s stock worth $2,268,257,000 after buying an additional 967,565 shares in the last quarter. Finally, Edgewood Management LLC raised its position in shares of Visa by 1.0% in the fourth quarter. Edgewood Management LLC now owns 11,880,171 shares of the credit-card processor’s stock worth $926,891,000 after buying an additional 119,292 shares during the last quarter. 80.14% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc (NYSE:V) remained flat at $91.15 on Friday. 19,442,584 shares of the company were exchanged. Visa Inc has a 12 month low of $73.25 and a 12 month high of $92.80. The company has a 50 day moving average price of $89.29 and a 200-day moving average price of $83.82. The stock has a market capitalization of $211.84 billion, a price-to-earnings ratio of 35.33 and a beta of 1.00. Visa also was the target of some unusual options trading activity on Thursday. Investors acquired 44,268 put options on the stock. This is an increase of approximately 625% compared to the average volume of 6,107 put options.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Friday, May 19th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, May 17th. Visa’s dividend payout ratio is currently 26.09%.
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A number of research analysts have commented on V shares. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $85.82 price objective on the stock in a research report on Thursday, February 2nd. Stifel Nicolaus reduced their price target on Visa from $105.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Sanford C. Bernstein restated an “outperform” rating and issued a $104.00 price target on shares of Visa in a research report on Saturday, March 11th. Morgan Stanley reiterated an “overweight” rating on shares of Visa in a report on Wednesday, March 8th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $103.00 target price on shares of Visa in a report on Tuesday, March 14th. Two analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average target price of $93.27.
In related news, SVP James H. Hoffmeister sold 11,139 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $85.95, for a total value of $957,397.05. Following the transaction, the senior vice president now owns 6,390 shares of the company’s stock, valued at approximately $549,220.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP William M. Sheedy sold 125,372 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $85.74, for a total transaction of $10,749,395.28. Following the completion of the transaction, the executive vice president now directly owns 365,769 shares in the company, valued at approximately $31,361,034.06. The disclosure for this sale can be found here. Corporate 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.
