Means Investment CO. Inc. increased its position in shares of Visa Inc. (NYSE:V) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,254 shares of the credit-card processor’s stock after purchasing an additional 902 shares during the period. Visa comprises about 0.9% of Means Investment CO. Inc.’s investment portfolio, making the stock its 24th largest position. Means Investment CO. Inc.’s holdings in Visa were worth $3,865,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kinloch Capital LLC bought a new stake in Visa in the fourth quarter valued at $27,000. FNY Investment Advisers LLC grew its position in Visa by 129.1% in the fourth quarter. FNY Investment Advisers LLC now owns 126 shares of the credit-card processor’s stock valued at $27,000 after acquiring an additional 71 shares during the period. Horan Securities Inc. grew its position in Visa by 432.0% in the fourth quarter. Horan Securities Inc. now owns 133 shares of the credit-card processor’s stock valued at $29,000 after acquiring an additional 108 shares during the period. Cowa LLC bought a new stake in Visa in the fourth quarter valued at $29,000. Finally, New Capital Management LP bought a new stake in Visa in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 80.50% of the company’s stock.
Shares of Visa stock traded up $2.92 during trading hours on Thursday, hitting $222.19. The company’s stock had a trading volume of 125,515 shares, compared to its average volume of 10,067,009. Visa Inc. has a 12 month low of $159.15 and a 12 month high of $228.23. The stock has a 50 day moving average of $214.52 and a 200 day moving average of $207.22. The company has a market capitalization of $433.78 billion, a PE ratio of 44.93, a price-to-earnings-growth ratio of 3.80 and a beta of 0.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.91 and a quick ratio of 1.91.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $1.28 annualized dividend and a dividend yield of 0.58%. Visa’s dividend payout ratio (DPR) is currently 25.40%.
A number of analysts have weighed in on V shares. Credit Suisse Group upped their price target on Visa from $255.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, January 29th. Morgan Stanley boosted their price objective on Visa from $233.00 to $253.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Visa from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. Jefferies Financial Group raised Visa from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $195.00 to $250.00 in a research note on Wednesday, January 13th. Finally, KeyCorp boosted their price objective on Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 13th. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $226.42.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $212.55, for a total transaction of $1,912,950.00. Following the completion of the transaction, the chief executive officer now directly owns 163,112 shares in the company, valued at $34,669,455.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Rajat Taneja sold 31,750 shares of the stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $223.00, for a total value of $7,080,250.00. Following the transaction, the insider now owns 282,606 shares of the company’s stock, valued at $63,021,138. The disclosure for this sale can be found here. Insiders sold 93,093 shares of company stock valued at $20,418,578 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
Further Reading: Beta
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