Visa Inc. (NYSE:V) Shares Purchased by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. boosted its stake in shares of Visa Inc. (NYSE:VGet Rating) by 50.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 47,853 shares of the credit-card processor’s stock after acquiring an additional 15,970 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Visa were worth $9,421,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of V. IFM Investors Pty Ltd boosted its stake in Visa by 18.7% during the first quarter. IFM Investors Pty Ltd now owns 264,959 shares of the credit-card processor’s stock worth $58,760,000 after buying an additional 41,771 shares during the period. BCK Partners Inc. purchased a new position in Visa during the first quarter worth about $2,717,000. Markel Corp boosted its stake in shares of Visa by 0.3% in the first quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after purchasing an additional 3,065 shares during the period. West Chester Capital Advisors Inc. boosted its stake in shares of Visa by 0.4% in the first quarter. West Chester Capital Advisors Inc. now owns 15,574 shares of the credit-card processor’s stock valued at $3,454,000 after purchasing an additional 58 shares during the period. Finally, Sandy Spring Bank boosted its stake in shares of Visa by 1.6% in the first quarter. Sandy Spring Bank now owns 47,407 shares of the credit-card processor’s stock valued at $10,513,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lowered their price objective on shares of Visa from $271.00 to $264.00 and set an “overweight” rating for the company in a research note on Thursday, October 27th. Jefferies Financial Group lowered their price objective on shares of Visa from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, October 19th. Credit Suisse Group raised their price objective on shares of Visa from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Wednesday, October 26th. UBS Group raised their price objective on shares of Visa from $292.00 to $296.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. Finally, Morgan Stanley raised their target price on shares of Visa from $282.00 to $284.00 and gave the company an “overweight” rating in a report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, Visa has an average rating of “Moderate Buy” and a consensus price target of $248.14.

Visa Stock Performance

V stock traded up $1.40 on Thursday, hitting $211.73. The company’s stock had a trading volume of 3,807,338 shares, compared to its average volume of 7,973,231. The firm has a 50 day moving average of $193.72 and a two-hundred day moving average of $200.97. Visa Inc. has a 1 year low of $174.60 and a 1 year high of $235.85. The stock has a market cap of $400.26 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.69 and a beta of 0.96. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.61.

Visa Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Friday, December 16th will be given a $0.395 dividend. The ex-dividend date of this dividend is Thursday, December 15th. This represents a $1.58 annualized dividend and a yield of 0.75%. Visa’s dividend payout ratio (DPR) is 25.75%.

Visa declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 25th that permits the company to repurchase $12.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Visa

In related news, CEO Alfred F. Kelly, Jr. sold 6,000 shares of the company’s stock in a transaction on Thursday, September 29th. The shares were sold at an average price of $180.00, for a total value of $1,080,000.00. Following the completion of the sale, the chief executive officer now owns 153,887 shares in the company, valued at approximately $27,699,660. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

About Visa

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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.

See Also

Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:VGet Rating).

Institutional Ownership by Quarter for Visa (NYSE:V)

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