Tiaa Fsb boosted its stake in Visa Inc. (NYSE:V) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 260,195 shares of the credit-card processor’s stock after purchasing an additional 1,132 shares during the period. Tiaa Fsb’s holdings in Visa were worth $57,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of V. OLD Mission Capital LLC acquired a new stake in Visa in the third quarter worth $373,000. Voloridge Investment Management LLC bought a new position in shares of Visa in the first quarter worth $2,451,000. Canada Pension Plan Investment Board grew its stake in shares of Visa by 61.3% in the first quarter. Canada Pension Plan Investment Board now owns 963 shares of the credit-card processor’s stock worth $204,000 after purchasing an additional 366 shares in the last quarter. Aspire Private Capital LLC grew its stake in shares of Visa by 108.3% in the first quarter. Aspire Private Capital LLC now owns 1,252 shares of the credit-card processor’s stock worth $265,000 after purchasing an additional 651 shares in the last quarter. Finally, MBL Wealth LLC grew its stake in shares of Visa by 20.8% in the first quarter. MBL Wealth LLC now owns 3,318 shares of the credit-card processor’s stock worth $702,000 after purchasing an additional 572 shares in the last quarter. 80.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:V traded up $4.76 during trading on Thursday, hitting $203.25. 12,022,669 shares of the company were exchanged, compared to its average volume of 8,681,419. The company has a current ratio of 1.75, a quick ratio of 2.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $395.92 billion, a price-to-earnings ratio of 36.10, a P/E/G ratio of 1.88 and a beta of 0.92. Visa Inc. has a fifty-two week low of $192.81 and a fifty-two week high of $252.67. The firm has a fifty day moving average price of $219.79 and a two-hundred day moving average price of $228.86.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7th. Investors of record on Friday, November 12th will be paid a $0.375 dividend. The ex-dividend date is Wednesday, November 10th. This is an increase from Visa’s previous quarterly dividend of $0.32. This represents a $1.50 annualized dividend and a yield of 0.74%. Visa’s payout ratio is 26.64%.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the company’s stock in a transaction on Thursday, September 30th. The stock was sold at an average price of $227.58, for a total transaction of $2,048,220.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the company’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $229.10, for a total value of $2,564,316.30. Following the sale, the president now owns 11,193 shares of the company’s stock, valued at $2,564,316.30. The disclosure for this sale can be found here. Insiders sold a total of 51,580 shares of company stock valued at $11,376,866 over the last 90 days. 0.19% of the stock is currently owned by corporate insiders.
V has been the subject of several recent analyst reports. Wells Fargo & Company increased their price target on Visa from $265.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Citigroup decreased their price target on Visa from $288.00 to $285.00 and set a “buy” rating for the company in a research note on Thursday, October 28th. Raymond James decreased their target price on Visa from $286.00 to $263.00 and set an “outperform” rating for the company in a research note on Wednesday, October 27th. UBS Group assumed coverage on Visa in a report on Thursday, November 18th. They set a “buy” rating and a $275.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $227.00 price target for the company. in a report on Thursday, October 28th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, Visa currently has an average rating of “Buy” and a consensus target price of $270.11.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit card, credit card, prepaid products, commercial payment solutions, and global ATM.
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