Intact Investment Management Inc. Raises Stock Position in Visa Inc (NYSE:V)

Intact Investment Management Inc. boosted its position in shares of Visa Inc (NYSE:V) by 58.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,600 shares of the credit-card processor’s stock after purchasing an additional 5,400 shares during the period. Intact Investment Management Inc.’s holdings in Visa were worth $2,742,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Aviance Capital Partners LLC lifted its holdings in shares of Visa by 17.9% during the fourth quarter. Aviance Capital Partners LLC now owns 31,412 shares of the credit-card processor’s stock worth $5,902,000 after purchasing an additional 4,766 shares during the period. Bogart Wealth LLC boosted its stake in Visa by 10.1% during the 4th quarter. Bogart Wealth LLC now owns 4,146 shares of the credit-card processor’s stock valued at $779,000 after purchasing an additional 380 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Visa during the 4th quarter valued at $14,190,000. Blair William & Co. IL boosted its stake in Visa by 0.3% during the 4th quarter. Blair William & Co. IL now owns 2,653,438 shares of the credit-card processor’s stock valued at $498,581,000 after purchasing an additional 7,371 shares in the last quarter. Finally, Change Path LLC boosted its stake in Visa by 2.9% during the 4th quarter. Change Path LLC now owns 3,634 shares of the credit-card processor’s stock valued at $683,000 after purchasing an additional 101 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

In other news, insider Rajat Taneja sold 10,685 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $208.29, for a total value of $2,225,578.65. Following the transaction, the insider now directly owns 282,318 shares of the company’s stock, valued at $58,804,016.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $174.04, for a total transaction of $1,218,280.00. Following the completion of the transaction, the chief executive officer now directly owns 145,090 shares in the company, valued at $25,251,463.60. The disclosure for this sale can be found here. Insiders sold 39,371 shares of company stock valued at $7,814,759 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Shares of V traded up $5.62 during mid-day trading on Thursday, reaching $167.40. The company’s stock had a trading volume of 1,868,985 shares, compared to its average volume of 19,172,908. The business has a fifty day moving average of $186.24 and a 200 day moving average of $184.64. The company has a market cap of $303.27 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94. Visa Inc has a 1 year low of $133.93 and a 1 year high of $214.17. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.46.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $1.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.46. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $6.08 billion. Visa had a return on equity of 43.15% and a net margin of 52.60%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.30 earnings per share. On average, analysts predict that Visa Inc will post 6.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 3rd. Stockholders of record on Friday, February 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Visa’s previous quarterly dividend of $0.25. Visa’s dividend payout ratio is presently 22.06%.

A number of equities analysts have issued reports on V shares. Cantor Fitzgerald increased their price target on Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $217.00 price target on shares of Visa in a research note on Wednesday, March 18th. Compass Point started coverage on Visa in a research note on Thursday, December 5th. They set a “buy” rating for the company. Robert W. Baird decreased their price target on Visa from $220.00 to $196.00 and set an “outperform” rating for the company in a research note on Wednesday, March 11th. Finally, Oppenheimer increased their price target on Visa from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, February 12th. Four research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $214.15.

About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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