Nuveen Asset Management LLC lessened its holdings in shares of Visa Inc. (NYSE:V – Get Rating) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,869,631 shares of the credit-card processor’s stock after selling 1,492,588 shares during the quarter. Visa accounts for 0.8% of Nuveen Asset Management LLC’s portfolio, making the stock its 15th largest position. Nuveen Asset Management LLC owned 0.67% of Visa worth $2,788,977,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Outfitter Financial LLC bought a new position in Visa during the 4th quarter worth approximately $27,000. Cranbrook Wealth Management LLC lifted its holdings in Visa by 236.8% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 128 shares of the credit-card processor’s stock worth $29,000 after buying an additional 90 shares during the last quarter. Blue Bell Private Wealth Management LLC bought a new position in Visa during the 4th quarter worth approximately $32,000. Joseph Group Capital Management bought a new stake in shares of Visa in the 4th quarter worth approximately $1,429,000. Finally, Disciplined Investments LLC lifted its holdings in shares of Visa by 500.0% in the 4th quarter. Disciplined Investments LLC now owns 168 shares of the credit-card processor’s stock worth $36,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 80.77% of the company’s stock.
V stock traded up $4.71 during midday trading on Thursday, reaching $208.55. The stock had a trading volume of 9,206,269 shares, compared to its average volume of 8,862,554. The business has a fifty day simple moving average of $211.55 and a two-hundred day simple moving average of $212.32. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a market cap of $396.51 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 1.68 and a beta of 0.90. Visa Inc. has a twelve month low of $186.67 and a twelve month high of $252.67.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 13th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Thursday, May 12th. Visa’s dividend payout ratio (DPR) is currently 23.58%.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $218.62, for a total value of $1,967,580.00. Following the sale, the chief executive officer now owns 165,887 shares in the company, valued at approximately $36,266,215.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Matschullat sold 1,114 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $210.94, for a total value of $234,987.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,047 shares of company stock worth $9,030,622. Company insiders own 0.21% of the company’s stock.
Several analysts recently issued reports on the company. Citigroup cut their price target on Visa from $285.00 to $265.00 in a report on Monday, April 25th. Morgan Stanley raised their target price on Visa from $279.00 to $284.00 in a research report on Wednesday, April 27th. upgraded Visa to a “buy” rating in a research report on Wednesday, February 9th. Raymond James raised their target price on Visa from $265.00 to $281.00 and gave the company an “outperform” rating in a research report on Friday, January 28th. Finally, Barclays lowered their target price on Visa from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Monday, April 4th. Six analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, Visa currently has an average rating of “Buy” and an average price target of $265.88.
About Visa (Get Rating)
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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