Factory Mutual Insurance Co. decreased its holdings in shares of Visa (NYSE:V) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 871,700 shares of the credit-card processor’s stock after selling 5,800 shares during the quarter. Visa accounts for about 1.0% of Factory Mutual Insurance Co.’s investment portfolio, making the stock its 28th biggest position. Factory Mutual Insurance Co.’s holdings in Visa were worth $99,391,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. BlackRock Inc. boosted its holdings in Visa by 1.3% in the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after buying an additional 1,440,034 shares during the last quarter. Jennison Associates LLC boosted its holdings in Visa by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after buying an additional 209,764 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Visa by 9.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after buying an additional 1,624,700 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in Visa by 2.3% in the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after buying an additional 355,320 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.
V traded down $1.23 during trading hours on Monday, reaching $118.39. 9,870,685 shares of the stock traded hands, compared to its average volume of 8,586,063. The firm has a market cap of $246,481.45, a price-to-earnings ratio of 34.02, a PEG ratio of 1.57 and a beta of 0.98. Visa has a fifty-two week low of $88.13 and a fifty-two week high of $126.88. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The company had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. analysts forecast that Visa will post 4.38 earnings per share for the current fiscal year.
Visa announced that its board has approved a share repurchase program 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 purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is currently 24.14%.
In related news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.
Several analysts have recently commented on V shares. Susquehanna Bancshares lifted their price target on shares of Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Cowen reissued a “buy” rating and issued a $129.00 target price on shares of Visa in a research report on Friday, January 12th. Citigroup restated a “buy” rating and issued a $136.00 price target (up previously from $124.00) on shares of Visa in a research note on Friday, January 12th. Stephens reissued a “buy” rating and issued a $135.00 price target on shares of Visa in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $141.00 price target on shares of Visa in a research report on Friday, December 22nd. Three analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $135.21.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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