Good Life Advisors LLC grew its position in shares of Visa Inc. (NYSE:V) by 16.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,803 shares of the credit-card processor’s stock after acquiring an additional 549 shares during the quarter. Good Life Advisors LLC’s holdings in Visa were worth $340,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Carret Asset Management LLC grew its stake in shares of Visa by 4.5% in the first quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock valued at $2,403,000 after buying an additional 1,153 shares in the last quarter. Private Trust Co. NA grew its stake in shares of Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock valued at $3,287,000 after buying an additional 4,138 shares in the last quarter. DE Burlo Group Inc. grew its stake in shares of Visa by 65.9% in the first quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock valued at $12,886,000 after buying an additional 57,600 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its holdings in Visa by 5.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 5,470,559 shares of the credit-card processor’s stock valued at $486,168,000 after purchasing an additional 290,480 shares during the last quarter. Finally, British Airways Pensions Investment Management Ltd boosted its holdings in Visa by 100.4% in the first quarter. British Airways Pensions Investment Management Ltd now owns 658,038 shares of the credit-card processor’s stock valued at $58,449,000 after purchasing an additional 329,750 shares during the last quarter. Institutional investors own 81.68% of the company’s stock.
Shares of Visa Inc. (NYSE V) opened at 105.56 on Friday. The firm has a market cap of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $106.84. The company’s 50-day moving average price is $103.15 and its 200-day moving average price is $95.55.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Equities analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s payout ratio is currently 24.54%.
In related news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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A number of research analysts recently commented on the company. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price target for the company in a report on Tuesday, June 27th. Instinet increased their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and set a $100.00 target price (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Four investment 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 company presently has an average rating of “Buy” and a consensus price target of $106.42.
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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