Capital Advisors Inc. OK reduced its position in shares of Visa (NYSE:V) by 4.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 163,588 shares of the credit-card processor’s stock after selling 6,774 shares during the quarter. Visa comprises approximately 1.1% of Capital Advisors Inc. OK’s holdings, making the stock its 18th largest holding. Capital Advisors Inc. OK’s holdings in Visa were worth $18,652,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Investments LLC purchased a new stake in Visa during the 3rd quarter valued at $101,000. Cordasco Financial Network purchased a new stake in Visa in the third quarter worth $105,000. Massey Quick Simon & CO. LLC purchased a new stake in Visa in the third quarter worth $110,000. MPS Loria Financial Planners LLC purchased a new stake in Visa in the second quarter worth $123,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Visa in the second quarter worth $125,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
Visa stock opened at $119.62 on Friday. The company has a market capitalization of $246,481.45, a PE ratio of 34.37, a price-to-earnings-growth ratio of 1.57 and a beta of 0.99. Visa has a 12 month low of $88.13 and a 12 month high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were given a $0.21 dividend. The ex-dividend date was Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.70%. Visa’s payout ratio is 24.14%.
Visa announced that its Board of Directors has initiated a share buyback program on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently commented on the company. Susquehanna Bancshares raised their price target on Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Wells Fargo reissued an “outperform” rating and issued a $135.00 price target (up previously from $127.00) on shares of Visa in a report on Tuesday, January 9th. Stephens restated a “buy” rating and issued a $135.00 price objective on shares of Visa in a research note on Wednesday, January 10th. Cowen restated a “buy” rating and issued a $129.00 price objective on shares of Visa in a research note on Friday, January 12th. Finally, Citigroup restated a “buy” rating and issued a $136.00 price objective (up from $124.00) on shares of Visa in a research note on Friday, January 12th. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and a consensus target price of $135.21.
In other news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.14% 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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