South State Corp raised its stake in Visa Inc (NYSE:V) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,370 shares of the credit-card processor’s stock after buying an additional 4,875 shares during the period. Visa accounts for 1.4% of South State Corp’s holdings, making the stock its 17th largest holding. South State Corp’s holdings in Visa were worth $11,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Highwater Wealth Management LLC purchased a new position in Visa during the fourth quarter worth about $33,000. Essex Investment Management Co. LLC purchased a new position in Visa during the fourth quarter worth about $33,000. Ironwood Financial llc boosted its holdings in Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock worth $44,000 after purchasing an additional 135 shares during the last quarter. Contravisory Investment Management Inc. boosted its holdings in Visa by 180.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock worth $52,000 after purchasing an additional 255 shares during the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Visa in the fourth quarter valued at about $57,000. Hedge funds and other institutional investors own 80.97% of the company’s stock.
Shares of NYSE:V traded up $0.39 during trading on Monday, reaching $173.94. The company had a trading volume of 5,191,262 shares, compared to its average volume of 8,030,690. The company has a fifty day moving average price of $167.08. The stock has a market cap of $348.63 billion, a PE ratio of 37.73, a P/E/G ratio of 1.97 and a beta of 0.96. Visa Inc has a 12 month low of $121.60 and a 12 month high of $175.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.62 and a quick ratio of 1.62.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.57%. Visa’s payout ratio is currently 21.69%.
In other Visa news, EVP William M. Sheedy sold 75,676 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total transaction 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 approximately $49,590,837.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.17% of the company’s stock.
V has been the topic of a number of research analyst reports. Deutsche Bank boosted their target price on shares of Visa from $160.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Robert W. Baird set a $182.00 target price on shares of Visa and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a research note on Friday, May 17th. Nomura boosted their price target on shares of Visa from $175.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, BMO Capital Markets boosted their price target on shares of Visa to $214.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $179.83.
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.
See Also: What is Compound Interest?
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.