Visa Inc. (NYSE:V) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in Visa Inc. (NYSE:V) by 0.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 539,807 shares of the credit-card processor’s stock after acquiring an additional 491 shares during the quarter. CIBC Asset Management Inc’s holdings in Visa were worth $170,453,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in V. Peterson Financial Group Inc. acquired a new stake in shares of Visa during the third quarter worth $26,000. Decker Retirement Planning Inc. purchased a new stake in Visa in the 4th quarter valued at about $26,000. Reston Wealth Management LLC acquired a new position in shares of Visa during the 3rd quarter valued at about $31,000. POM Investment Strategies LLC increased its stake in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Finally, Modus Advisors LLC purchased a new position in shares of Visa during the 4th quarter worth about $32,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Down 0.5 %

Shares of NYSE:V opened at $354.95 on Thursday. The firm has a market cap of $659.42 billion, a PE ratio of 35.78, a price-to-earnings-growth ratio of 2.35 and a beta of 0.97. The company has a fifty day simple moving average of $327.75 and a 200 day simple moving average of $301.05. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.45. Visa Inc. has a 12-month low of $252.70 and a 12-month high of $357.15.

Visa (NYSE:V) last released its earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.66 by $0.09. Visa had a net margin of 54.27% and a return on equity of 54.79%. On average, equities research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio is presently 23.79%.

Insider Transactions at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $317.78, for a total value of $2,739,263.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total transaction of $668,602.87. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,056 shares of company stock worth $19,830,050. 0.13% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on V shares. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Susquehanna upped their price objective on Visa from $375.00 to $395.00 and gave the stock a “positive” rating in a report on Friday, January 31st. The Goldman Sachs Group lifted their target price on Visa from $346.00 to $384.00 and gave the company a “buy” rating in a report on Friday, January 31st. Macquarie upped their price target on Visa from $300.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America lifted their price objective on Visa from $331.00 to $363.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.73.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.