Personal Capital Advisors Corp lifted its position in shares of Visa Inc (NYSE:V) by 9.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 173,023 shares of the credit-card processor’s stock after buying an additional 14,692 shares during the quarter. Personal Capital Advisors Corp’s holdings in Visa were worth $25,969,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of V. Fort L.P. purchased a new stake in Visa in the second quarter valued at approximately $120,000. Cascade Investment Advisors Inc. purchased a new stake in Visa during the second quarter worth approximately $132,000. Bridgeworth LLC purchased a new stake in Visa during the second quarter worth approximately $143,000. Ruggie Capital Group purchased a new stake in Visa during the second quarter worth approximately $164,000. Finally, Signature Estate & Investment Advisors LLC grew its stake in Visa by 36.8% during the second 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. Institutional investors and hedge funds own 80.15% of the company’s stock.
Several equities research analysts have issued reports on the stock. Wells Fargo & Co boosted their price objective on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, October 1st. Bank of America boosted their price objective on shares of Visa from $155.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. BMO Capital Markets boosted their price objective on shares of Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a research note on Thursday, October 25th. Finally, Credit Suisse Group boosted their price objective on shares of Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $156.09.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, equities research analysts anticipate that Visa Inc will post 5.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be given a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, November 15th. Visa’s payout ratio is presently 21.69%.
In related news, EVP William M. Sheedy sold 99,636 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the sale, the executive vice president now directly owns 296,925 shares of the company’s stock, valued at $41,355,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the sale, the executive vice president now directly owns 241,983 shares in the company, valued at $32,200,677.81. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
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Visa Company Profile
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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