Edgemoor Investment Advisors Inc. increased its position in shares of Visa Inc (NYSE:V) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,779 shares of the credit-card processor’s stock after buying an additional 3,266 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Visa were worth $6,817,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Visa in the 2nd quarter valued at $958,000. Welch Investments LLC bought a new stake in Visa in the 3rd quarter valued at $101,000. Cordasco Financial Network bought a new stake in Visa in the 3rd quarter valued at $105,000. Massey Quick Simon & CO. LLC bought a new stake in Visa in the 3rd quarter valued at $110,000. Finally, Motco lifted its position in Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock valued at $110,000 after acquiring an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
Visa Inc (V) traded up $0.22 on Thursday, hitting $120.84. 3,307,341 shares of the company were exchanged, compared to its average volume of 8,859,727. The company has a market capitalization of $273,330.00, a price-to-earnings ratio of 40.02, a P/E/G ratio of 1.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. Visa Inc has a one year low of $86.79 and a one year high of $126.88.
Visa declared that its board has approved a share buyback program on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be given a $0.21 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 15th. This represents a $0.84 annualized dividend and a yield of 0.70%. Visa’s payout ratio is currently 25.83%.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the transaction, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP James H. Hoffmeister sold 2,146 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,068 shares of company stock worth $6,597,262. Insiders own 0.14% of the company’s stock.
Several equities research analysts have commented on V shares. Susquehanna Bancshares boosted their price target on shares of Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $120.00 target price on shares of Visa in a report on Wednesday, October 25th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wells Fargo & Co reiterated an “outperform” rating and issued a $135.00 price target (up previously from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Finally, Jefferies Group upped their price target on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $133.85.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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