KCM Investment Advisors LLC Raises Position in Visa Inc (NYSE:V)
KCM Investment Advisors LLC increased its holdings in Visa Inc (NYSE:V) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 139,504 shares of the credit-card processor’s stock after acquiring an additional 4,192 shares during the quarter. Visa comprises 1.4% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position. KCM Investment Advisors LLC’s holdings in Visa were worth $26,213,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of V. Loomis Sayles & Co. L P raised its position in Visa by 4.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 16,638,866 shares of the credit-card processor’s stock valued at $3,126,443,000 after purchasing an additional 767,660 shares in the last quarter. Magellan Asset Management Ltd increased its position in shares of Visa by 2.8% during the 4th quarter. Magellan Asset Management Ltd now owns 14,517,335 shares of the credit-card processor’s stock valued at $2,727,807,000 after purchasing an additional 394,660 shares during the last quarter. Polen Capital Management LLC raised its holdings in shares of Visa by 2.8% during the 4th quarter. Polen Capital Management LLC now owns 10,160,598 shares of the credit-card processor’s stock valued at $1,909,176,000 after buying an additional 277,305 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Visa by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,672,697 shares of the credit-card processor’s stock valued at $1,441,700,000 after buying an additional 64,937 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Visa by 0.8% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,242,045 shares of the credit-card processor’s stock valued at $1,360,780,000 after buying an additional 58,752 shares in the last quarter. 82.41% of the stock is owned by institutional investors.
Shares of V stock traded up $7.07 during mid-day trading on Thursday, reaching $168.85. The stock had a trading volume of 702,030 shares, compared to its average volume of 19,172,908. The firm has a market capitalization of $303.27 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94. The stock’s 50-day moving average price is $186.24 and its two-hundred day moving average price is $184.64. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.46. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.30 per share. This is a positive change from Visa’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.71%. Visa’s dividend payout ratio is presently 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $174.04, for a total value of $1,218,280.00. Following the completion of the sale, the chief executive officer now directly owns 145,090 shares of the company’s stock, valued at approximately $25,251,463.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lynne Biggar sold 5,500 shares of Visa stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $211.18, for a total transaction of $1,161,490.00. Following the sale, the executive vice president now directly owns 19,370 shares in the company, valued at approximately $4,090,556.60. The disclosure for this sale can be found here. Insiders have sold a total of 39,371 shares of company stock valued at $7,814,759 in the last ninety days. 0.19% of the stock is currently owned by corporate insiders.
V has been the subject of several research reports. Moffett Nathanson upped their target price on Visa from to in a research note on Tuesday, January 7th. Macquarie began coverage on shares of Visa in a research note on Tuesday, January 21st. They set an “outperform” rating and a $250.00 price target on the stock. Oppenheimer boosted their price objective on shares of Visa from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. KeyCorp cut their price objective on shares of Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Citigroup reduced their target price on shares of Visa from $236.00 to $225.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Four analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Visa currently has an average rating of “Buy” and an average price target of $214.15.
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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