Daiwa SB Investments Ltd. increased its holdings in shares of Visa Inc (NYSE:V) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,980 shares of the credit-card processor’s stock after buying an additional 700 shares during the quarter. Daiwa SB Investments Ltd.’s holdings in Visa were worth $1,948,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Fundsmith Equity Fund L.P. acquired a new stake in shares of Visa in the 2nd quarter valued at about $757,597,000. Bank of Montreal Can acquired a new stake in shares of Visa in the 2nd quarter valued at about $727,019,000. Vontobel Asset Management Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $471,495,000. FMR LLC raised its stake in shares of Visa by 2.9% in the 2nd quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after purchasing an additional 2,398,540 shares during the period. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Visa in the 2nd quarter valued at about $268,605,000. 80.15% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP William M. Sheedy sold 99,636 shares of Visa stock in a transaction dated 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 transaction, the executive vice president now owns 296,925 shares in the company, valued at $41,355,714. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William M. Sheedy sold 3,643 shares of Visa stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total value of $484,774.01. Following the transaction, the executive vice president now owns 241,983 shares of the company’s stock, valued at approximately $32,200,677.81. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last posted its quarterly 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 return on equity of 38.00% and a net margin of 49.98%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, sell-side analysts predict that Visa Inc will post 5.32 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.75%. This is a boost from Visa’s previous quarterly dividend of $0.21. Visa’s dividend payout ratio (DPR) is presently 21.69%.
Several research firms have issued reports on V. Credit Suisse Group lifted their price target on Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. JPMorgan Chase & Co. reissued a “buy” rating and issued a $166.00 price target on shares of Visa in a research note on Thursday, October 25th. Robert W. Baird lifted their price target on Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Finally, Bank of America lifted their price target on Visa from $155.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $156.09.
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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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