Diamond Hill Capital Management Inc. lifted its position in Visa Inc (NYSE:V) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,120 shares of the credit-card processor’s stock after acquiring an additional 103 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Visa were worth $280,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in V. Vanguard Group Inc. boosted its position in shares of Visa by 0.5% in the third quarter. Vanguard Group Inc. now owns 133,049,441 shares of the credit-card processor’s stock worth $19,969,390,000 after buying an additional 640,593 shares during the period. Vanguard Group Inc boosted its holdings in Visa by 0.5% in the third quarter. Vanguard Group Inc now owns 133,049,441 shares of the credit-card processor’s stock valued at $19,969,390,000 after purchasing an additional 640,593 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Visa by 11,319.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 86,570,056 shares of the credit-card processor’s stock valued at $656,000 after purchasing an additional 85,811,983 shares during the last quarter. Morgan Stanley boosted its holdings in Visa by 3.9% in the third quarter. Morgan Stanley now owns 29,757,958 shares of the credit-card processor’s stock valued at $4,466,371,000 after purchasing an additional 1,119,197 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Visa by 3.0% in the fourth quarter. Fisher Asset Management LLC now owns 18,622,097 shares of the credit-card processor’s stock valued at $2,456,999,000 after purchasing an additional 534,608 shares during the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.
A number of research analysts have commented on the company. Wedbush increased their target price on Visa from $170.00 to $187.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating and set a $180.00 target price on the stock. in a report on Saturday, June 15th. Bank of America increased their target price on Visa from $177.00 to $192.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $181.00 target price on shares of Visa in a report on Sunday, April 28th. Finally, Goldman Sachs Group reaffirmed a “buy” rating and set a $188.00 target price on shares of Visa in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $179.83.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.07. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. Visa had a return on equity of 40.56% and a net margin of 51.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $1.11 EPS. Research analysts predict that Visa Inc will post 5.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Thursday, May 16th. Visa’s dividend payout ratio is presently 21.69%.
In other news, EVP William M. Sheedy sold 75,676 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $165.24, for a total value of $12,504,702.24. Following the completion of the sale, the executive vice president now owns 300,114 shares of the company’s stock, valued at $49,590,837.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.
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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