KBC Group NV Purchases 51,207 Shares of Visa Inc (V)
KBC Group NV boosted its stake in Visa Inc (NYSE:V) by 7.8% in the third quarter, Holdings Channel reports. The firm owned 705,660 shares of the credit-card processor’s stock after acquiring an additional 51,207 shares during the period. Visa accounts for about 0.7% of KBC Group NV’s holdings, making the stock its 22nd biggest position. KBC Group NV’s holdings in Visa were worth $74,264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Krilogy Financial LLC increased its holdings in Visa by 0.3% in the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after purchasing an additional 7 shares during the last quarter. Lakeview Capital Partners LLC increased its holdings in Visa by 0.8% in the second quarter. Lakeview Capital Partners LLC now owns 4,283 shares of the credit-card processor’s stock valued at $402,000 after purchasing an additional 34 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Visa by 0.5% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock worth $739,000 after acquiring an additional 38 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Visa by 2.4% in the second quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock worth $160,000 after acquiring an additional 40 shares in the last quarter. Finally, IMS Capital Management increased its holdings in shares of Visa by 1.0% in the second quarter. IMS Capital Management now owns 4,878 shares of the credit-card processor’s stock worth $457,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at $77,005.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the transaction, the director now directly owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The disclosure for this sale can be found here. Insiders have sold 58,068 shares of company stock valued at $6,597,262 over the last ninety days. 0.14% of the stock is owned by insiders.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.10. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. Visa’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. research analysts anticipate that Visa Inc will post 4.36 EPS for the current fiscal year.
Visa declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be given a dividend of $0.21 per share. This is a boost from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s dividend payout ratio is currently 25.83%.
Several equities research analysts have issued reports on V shares. Citigroup restated a “buy” rating and issued a $136.00 price target (up from $124.00) on shares of Visa in a report on Friday, January 12th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $126.37 price target for the company in a report on Monday, February 5th. BMO Capital Markets increased their price target on Visa from $116.00 to $134.00 and gave the stock an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a report on Thursday, January 25th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $123.00 price target on shares of Visa in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $133.85.
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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