Security National Bank grew its stake in shares of Visa Inc. (NYSE:V) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,648 shares of the credit-card processor’s stock after buying an additional 1,194 shares during the quarter. Visa comprises 2.4% of Security National Bank’s holdings, making the stock its 11th biggest position. Security National Bank’s holdings in Visa were worth $8,183,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Visa by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 77,974,988 shares of the credit-card processor’s stock worth $17,039,976,000 after purchasing an additional 2,064,562 shares in the last quarter. Morgan Stanley raised its holdings in shares of Visa by 20.2% in the 4th quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock worth $8,922,767,000 after purchasing an additional 6,857,457 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Visa by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 22,220,489 shares of the credit-card processor’s stock worth $4,860,288,000 after purchasing an additional 682,741 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Visa by 1.1% in the 4th quarter. Alliancebernstein L.P. now owns 18,669,445 shares of the credit-card processor’s stock worth $4,083,568,000 after purchasing an additional 206,395 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Visa in the 4th quarter worth approximately $3,305,348,000. Institutional investors own 80.50% of the company’s stock.
V has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Visa from a “hold” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $250.00 in a report on Wednesday, January 13th. Morgan Stanley boosted their target price on shares of Visa from $233.00 to $253.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. KeyCorp boosted their target price on shares of Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, January 13th. Barclays reiterated a “buy” rating and issued a $230.00 target price on shares of Visa in a report on Tuesday, December 22nd. Finally, Sanford C. Bernstein initiated coverage on shares of Visa in a research report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $226.42.
Visa (NYSE:V) last posted its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.14. Visa had a net margin of 49.74% and a return on equity of 37.22%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $5.52 billion. During the same period in the previous year, the firm posted $1.46 earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. Sell-side analysts expect that Visa Inc. will post 5.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Thursday, February 11th. Visa’s payout ratio is 25.40%.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction on Wednesday, March 31st. The shares were sold at an average price of $212.55, for a total value of $1,912,950.00. Following the sale, the chief executive officer now owns 163,112 shares of the company’s stock, valued at approximately $34,669,455.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Rajat Taneja sold 31,750 shares of the business’s stock in a transaction on Monday, March 8th. The shares were sold at an average price of $223.00, for a total transaction of $7,080,250.00. Following the completion of the sale, the insider now directly owns 282,606 shares in the company, valued at approximately $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. 0.19% of the stock is owned by corporate insiders.
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.
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