RDA Financial Network lowered its stake in Visa Inc. (NYSE:V – Get Rating) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,909 shares of the credit-card processor’s stock after selling 87 shares during the period. Visa accounts for approximately 1.3% of RDA Financial Network’s holdings, making the stock its 19th biggest position. RDA Financial Network’s holdings in Visa were worth $2,682,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of V. Bishop Rock Capital L.P. increased its stake in Visa by 20,610.1% in the 2nd quarter. Bishop Rock Capital L.P. now owns 5,031,721 shares of the credit-card processor’s stock worth $25,556,000 after purchasing an additional 5,007,425 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Visa by 290.9% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,428,383 shares of the credit-card processor’s stock worth $786,702,000 after purchasing an additional 3,295,642 shares in the last quarter. Alliancebernstein L.P. boosted its position in Visa by 7.0% during the 3rd quarter. Alliancebernstein L.P. now owns 27,141,800 shares of the credit-card processor’s stock worth $4,821,741,000 after acquiring an additional 1,785,695 shares during the period. Voya Investment Management LLC boosted its position in Visa by 222.7% during the 2nd quarter. Voya Investment Management LLC now owns 2,499,636 shares of the credit-card processor’s stock worth $492,154,000 after acquiring an additional 1,724,984 shares during the period. Finally, Great West Life Assurance Co. Can acquired a new stake in Visa during the 3rd quarter worth about $291,294,000. Hedge funds and other institutional investors own 81.87% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on V shares. Mizuho raised their price objective on Visa from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. Wolfe Research raised their price objective on Visa from $240.00 to $255.00 in a research report on Thursday, January 5th. Jefferies Financial Group raised their price objective on Visa from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. raised their price objective on Visa from $243.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Finally, Oppenheimer lifted their price target on Visa from $210.00 to $237.00 and gave the company an “outperform” rating in a report on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $259.11.
Visa Stock Down 0.0 %
Visa (NYSE:V – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The credit-card processor reported $2.18 EPS for the quarter, topping the consensus estimate of $2.01 by $0.17. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.70 billion. Visa had a return on equity of 49.95% and a net margin of 50.28%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.81 EPS. Research analysts forecast that Visa Inc. will post 8.43 EPS for the current year.
Visa Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Friday, February 10th were given a $0.45 dividend. This is an increase from Visa’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend was Thursday, February 9th. Visa’s payout ratio is currently 25.17%.
Insiders Place Their Bets
In other Visa news, President Ryan Mcinerney sold 58,197 shares of Visa stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total value of $3,635,566.59. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, President Ryan Mcinerney sold 58,197 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $62.47, for a total transaction of $3,635,566.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Julie B. Rottenberg sold 13,394 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $219.00, for a total value of $2,933,286.00. Following the sale, the general counsel now owns 4,583 shares in the company, valued at $1,003,677. The disclosure for this sale can be found here. Insiders have sold a total of 191,312 shares of company stock valued at $33,751,165 in the last three months. Company insiders own 0.22% of the company’s stock.
Visa, Inc engages in the provision of digital payment services. It also facilitates global commerce through the transfer of value and information among a global network of consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It offers debit cards, credit cards, prepaid products, commercial payment solutions, and global automated teller machines (ATMs).
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