Cigna Investments Inc. New lifted its stake in Visa Inc (NYSE:V) by 10.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,935 shares of the credit-card processor’s stock after buying an additional 6,253 shares during the quarter. Visa comprises 1.3% of Cigna Investments Inc. New’s portfolio, making the stock its 9th biggest holding. Cigna Investments Inc. New’s holdings in Visa were worth $10,302,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Stephenson National Bank & Trust bought a new stake in Visa during the 4th quarter valued at approximately $28,000. Laffer Investments bought a new stake in Visa during the 4th quarter valued at approximately $31,000. AlphaMark Advisors LLC raised its stake in Visa by 57.8% during the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 63 shares during the period. Sageworth Trust Co bought a new stake in Visa during the 4th quarter valued at approximately $40,000. Finally, Lloyd Advisory Services LLC. bought a new stake in Visa during the 4th quarter valued at approximately $43,000. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
V traded up $0.24 during trading hours on Friday, reaching $190.86. 5,581,642 shares of the company’s stock traded hands, compared to its average volume of 9,964,502. The firm has a 50-day moving average price of $173.48 and a 200 day moving average price of $183.49. Visa Inc has a 52-week low of $133.93 and a 52-week high of $214.17. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $370.47 billion, a PE ratio of 34.39, a PEG ratio of 3.03 and a beta of 0.92.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The company had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter in the previous year, the business earned $1.31 EPS. Visa’s revenue was up 6.6% compared to the same quarter last year. Equities analysts predict that Visa Inc will post 4.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio (DPR) is presently 22.06%.
Several equities analysts have weighed in on V shares. Zacks Investment Research upgraded Visa from a “sell” rating to a “hold” rating and set a $181.00 price target for the company in a report on Sunday, May 3rd. Cantor Fitzgerald raised their price target on Visa from $200.00 to $228.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Stephens cut their price target on Visa from $228.00 to $192.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Wedbush raised their price target on Visa from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, Wells Fargo & Co cut their price target on Visa from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Five research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $202.75.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa 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 sale, the chief executive officer now directly owns 145,090 shares of the company’s stock, valued at approximately $25,251,463.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 21,000 shares of company stock valued at $3,620,540. 0.19% of the stock is currently owned by corporate insiders.
Visa Company Profile
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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