Altman Advisors Inc. grew its holdings in Visa Inc. (NYSE:V – Get Rating) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,569 shares of the credit-card processor’s stock after acquiring an additional 130 shares during the quarter. Visa accounts for 1.9% of Altman Advisors Inc.’s portfolio, making the stock its 15th largest holding. Altman Advisors Inc.’s holdings in Visa were worth $3,675,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Visa during the fourth quarter worth about $2,740,577,000. Lone Pine Capital LLC bought a new position in shares of Visa during the 4th quarter valued at about $1,047,495,000. GQG Partners LLC lifted its holdings in shares of Visa by 46.2% during the 4th quarter. GQG Partners LLC now owns 11,289,146 shares of the credit-card processor’s stock valued at $2,446,122,000 after purchasing an additional 3,567,771 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Visa by 51.2% during the 4th quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit-card processor’s stock valued at $2,090,120,000 after purchasing an additional 3,179,759 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Visa by 11.5% in the 4th quarter. Alliancebernstein L.P. now owns 25,850,411 shares of the credit-card processor’s stock valued at $5,602,043,000 after buying an additional 2,659,845 shares during the last quarter. 80.77% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the business’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $210.38, for a total value of $1,893,420.00. Following the transaction, the chief executive officer now directly owns 162,887 shares of the company’s stock, valued at approximately $34,268,167.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have sold 27,000 shares of company stock valued at $5,560,740. 0.21% of the stock is owned by insiders.
Visa Price Performance
Visa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 12th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Thursday, August 11th. Visa’s dividend payout ratio (DPR) is currently 22.12%.
Wall Street Analysts Forecast Growth
V has been the topic of several recent analyst reports. Susquehanna lowered their price target on Visa from $290.00 to $260.00 in a research report on Thursday, July 28th. Citigroup lowered their price target on Visa from $270.00 to $254.00 in a research report on Tuesday, July 26th. Morgan Stanley boosted their price target on Visa from $284.00 to $291.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. StockNews.com upgraded shares of Visa from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. Finally, Evercore ISI increased their price objective on shares of Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a research report on Wednesday, April 27th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $258.64.
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.
- Get a free copy of the StockNews.com research report on Visa (V)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.