Bard Financial Services Inc. Purchases New Holdings in Visa Inc. (NYSE:V)
Bard Financial Services Inc. purchased a new stake in Visa Inc. (NYSE:V) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,685 shares of the credit-card processor’s stock, valued at approximately $2,556,000.
Other large investors have also recently modified their holdings of the company. FNY Investment Advisers LLC increased its stake in shares of Visa by 129.1% during the 4th quarter. FNY Investment Advisers LLC now owns 126 shares of the credit-card processor’s stock worth $27,000 after purchasing an additional 71 shares during the last quarter. Kinloch Capital LLC acquired a new position in Visa in the 4th quarter valued at $27,000. Horan Securities Inc. grew its stake in Visa by 432.0% in the 4th quarter. Horan Securities Inc. now owns 133 shares of the credit-card processor’s stock valued at $29,000 after buying an additional 108 shares during the last quarter. Cowa LLC acquired a new position in Visa in the 4th quarter valued at $29,000. Finally, New Capital Management LP acquired a new position in Visa in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.50% of the company’s stock.
A number of research firms recently issued reports on V. Jefferies Financial Group upgraded shares of Visa from a “hold” rating to a “buy” rating and raised their target price for the company from $195.00 to $250.00 in a research note on Wednesday, January 13th. Morgan Stanley increased their price target on shares of Visa from $233.00 to $253.00 and gave the company an “overweight” rating in a report on Monday, March 22nd. Sanford C. Bernstein assumed coverage on shares of Visa in a report on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price target for the company. Credit Suisse Group increased their price target on shares of Visa from $255.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, January 29th. Finally, KeyCorp increased their price target on shares of Visa from $210.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, January 13th. Five research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $226.42.
Visa (NYSE:V) last posted its earnings results on Thursday, January 28th. The credit-card processor reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.46 earnings per share. Sell-side analysts anticipate that Visa Inc. will post 5.45 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Friday, February 12th were issued a $0.32 dividend. The ex-dividend date was Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.58%. Visa’s dividend payout ratio (DPR) is currently 25.40%.
In related news, Director Robert W. Matschullat sold 29,956 shares of the firm’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $223.02, for a total value of $6,680,787.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $212.55, for a total transaction of $1,912,950.00. Following the completion of the transaction, the chief executive officer now owns 163,112 shares of the company’s stock, valued at approximately $34,669,455.60. The disclosure for this sale can be found here. Insiders sold 93,093 shares of company stock valued at $20,418,578 in the last three months. Company insiders own 0.19% of the company’s stock.
Visa Company Profile
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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