State Street Corp lifted its holdings in shares of Visa Inc. (NYSE:V - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,610,942 shares of the credit-card processor's stock after buying an additional 3,327,977 shares during the quarter. Visa makes up approximately 0.9% of State Street Corp's investment portfolio, making the stock its 17th largest position. State Street Corp owned approximately 4.20% of Visa worth $21,064,179,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Peterson Financial Group Inc. acquired a new position in Visa in the 3rd quarter valued at $26,000. POM Investment Strategies LLC increased its stake in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor's stock worth $28,000 after acquiring an additional 97 shares during the last quarter. Reston Wealth Management LLC acquired a new stake in shares of Visa in the 3rd quarter worth $31,000. TruNorth Capital Management LLC increased its stake in shares of Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor's stock worth $34,000 after acquiring an additional 89 shares during the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new stake in shares of Visa in the 2nd quarter worth $35,000. 82.15% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded Visa from a "moderate buy" rating to a "strong-buy" rating in a report on Tuesday, September 24th. Macquarie raised their target price on Visa from $300.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. The Goldman Sachs Group restated a "buy" rating and set a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Susquehanna raised their target price on Visa from $326.00 to $339.00 and gave the company a "positive" rating in a report on Wednesday, October 30th. Finally, BMO Capital Markets raised their target price on Visa from $310.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $321.74.
View Our Latest Research Report on Visa
V opened at $309.89 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $294.25 and a two-hundred day moving average price of $279.25. The company has a market cap of $577.28 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. Visa Inc. has a 1-year low of $252.14 and a 1-year high of $317.42.
Visa (NYSE:V - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.13. The company had revenue of $9.62 billion for the quarter, compared to analysts' expectations of $9.49 billion. Visa had a net margin of 54.96% and a return on equity of 53.16%. Visa's revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.33 EPS. Analysts predict that Visa Inc. will post 11.19 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.76%. This is a boost from Visa's previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa's dividend payout ratio (DPR) is currently 24.25%.
In related news, insider Paul D. Fabara sold 2,171 shares of the firm's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company's stock, valued at approximately $5,510,815.18. This trade represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.
Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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