Alberta Investment Management Corp lifted its stake in Visa Inc. (NYSE:V - Free Report) by 54.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 237,070 shares of the credit-card processor's stock after purchasing an additional 83,215 shares during the quarter. Alberta Investment Management Corp's holdings in Visa were worth $74,924,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Riverstone Advisors LLC acquired a new stake in shares of Visa in the fourth quarter worth $217,000. Custom Index Systems LLC acquired a new stake in Visa during the 3rd quarter worth about $731,000. Journey Strategic Wealth LLC grew its stake in Visa by 16.4% during the 4th quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor's stock valued at $3,058,000 after acquiring an additional 1,361 shares in the last quarter. Copley Financial Group Inc. acquired a new position in shares of Visa in the 3rd quarter valued at about $616,000. Finally, Calamos Wealth Management LLC lifted its position in shares of Visa by 0.6% in the fourth quarter. Calamos Wealth Management LLC now owns 77,443 shares of the credit-card processor's stock worth $24,475,000 after purchasing an additional 435 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company's stock.
Shares of V opened at $348.27 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $647.01 billion, a price-to-earnings ratio of 35.11, a PEG ratio of 2.36 and a beta of 0.97. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $357.15. The stock has a fifty day moving average of $329.14 and a 200-day moving average of $302.03.
Visa (NYSE:V - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 54.79% and a net margin of 54.27%. As a group, sell-side analysts anticipate that Visa Inc. will post 11.3 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 11th will be paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Tuesday, February 11th. Visa's dividend payout ratio is presently 23.79%.
In other news, insider Tullier Kelly Mahon sold 33,741 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $349.77, for a total transaction of $11,801,589.57. Following the transaction, the insider now owns 36,566 shares of the company's stock, valued at $12,789,689.82. This represents a 47.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total value of $2,739,263.60. The disclosure for this sale can be found here. Insiders sold 55,885 shares of company stock valued at $19,161,447 over the last quarter. Insiders own 0.13% of the company's stock.
A number of equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their target price on shares of Visa from $360.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. William Blair reissued an "outperform" rating on shares of Visa in a research report on Friday, January 31st. BMO Capital Markets boosted their target price on Visa from $310.00 to $320.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. UBS Group raised their price target on shares of Visa from $350.00 to $400.00 and gave the company a "buy" rating in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their price objective on Visa from $311.00 to $322.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $355.31.
Get Our Latest Analysis on V
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Visa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Visa wasn't on the list.
While Visa currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.