WealthTrust Fairport LLC increased its position in shares of Visa Inc. (NYSE:V) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,984 shares of the credit-card processor’s stock after buying an additional 60 shares during the period. WealthTrust Fairport LLC’s holdings in Visa were worth $1,598,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Visa during the fourth quarter worth approximately $1,335,803,000. Fisher Asset Management LLC boosted its stake in shares of Visa by 1.4% in the first quarter. Fisher Asset Management LLC now owns 15,163,968 shares of the credit-card processor’s stock worth $1,347,622,000 after buying an additional 206,225 shares during the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock worth $1,092,500,000 after buying an additional 531,327 shares during the last quarter. C WorldWide Group Holding A S boosted its stake in shares of Visa by 10.2% in the first quarter. C WorldWide Group Holding A S now owns 8,379,106 shares of the credit-card processor’s stock worth $744,651,000 after buying an additional 773,707 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Visa by 12.5% in the fourth quarter. Franklin Resources Inc. now owns 8,343,527 shares of the credit-card processor’s stock worth $650,978,000 after buying an additional 925,574 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
Visa Inc. (V) traded down 0.21% during mid-day trading on Tuesday, hitting $101.28. 6,283,665 shares of the stock were exchanged. Visa Inc. has a one year low of $75.17 and a one year high of $101.71. The company has a market cap of $231.57 billion, a P/E ratio of 37.66 and a beta of 0.94. The company has a 50-day moving average price of $96.32 and a 200-day moving average price of $91.20.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has approved a share repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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A number of equities research analysts recently commented on V shares. Citigroup Inc. reissued a “buy” rating and issued a $100.00 price objective on shares of Visa in a research note on Thursday, May 25th. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $95.32 price target on the stock in a research note on Thursday, April 27th. Deutsche Bank AG raised their price target on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Nomura raised their price target on shares of Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Credit Suisse Group set a $112.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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