Visa Inc (V) Position Lifted by Stifel Financial Corp
Stifel Financial Corp boosted its holdings in Visa Inc (NYSE:V) by 2.1% during the third quarter, Holdings Channel reports. The fund owned 1,797,235 shares of the credit-card processor’s stock after buying an additional 37,345 shares during the period. Visa comprises 0.7% of Stifel Financial Corp’s holdings, making the stock its 27th biggest position. Stifel Financial Corp’s holdings in Visa were worth $189,210,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in V. Vantage Financial Partners Ltd. Inc. acquired a new position in Visa during the second quarter worth $958,000. Welch Investments LLC acquired a new position in Visa during the third quarter worth $101,000. Cordasco Financial Network acquired a new position in Visa during the third quarter worth $105,000. Massey Quick Simon & CO. LLC acquired a new position in Visa during the third quarter worth $110,000. Finally, Motco lifted its stake in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.
A number of research analysts have commented on V shares. Susquehanna Bancshares upped their price target on Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. KeyCorp restated a “buy” rating and set a $118.00 price target on shares of Visa in a research note on Wednesday, October 18th. Citigroup upped their price target on Visa from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Cantor Fitzgerald restated a “buy” rating and set a $120.00 price target on shares of Visa in a research note on Wednesday, October 25th. Finally, Buckingham Research upped their price objective on Visa from $129.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Visa has an average rating of “Buy” and an average target price of $133.85.
Visa (NYSE:V) last posted its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.86 earnings per share. equities analysts expect that Visa Inc will post 4.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is 25.83%.
Visa declared that its board has approved a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the transaction, the senior vice president now owns 687 shares of the company’s stock, valued at $77,005.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 57,368 shares in the company, valued at approximately $6,526,183.68. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock worth $6,597,262 in the last three months. 0.14% of the stock is currently owned by corporate insiders.
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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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