Oregon Public Employees Retirement Fund increased its stake in shares of Visa Inc. (NYSE:V) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 445,299 shares of the credit-card processor’s stock after buying an additional 19,800 shares during the period. Visa makes up approximately 0.7% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 20th largest position. Oregon Public Employees Retirement Fund’s holdings in Visa were worth $41,760,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in V. Mercer Capital Advisers Inc. increased its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Mascoma Wealth Management LLC acquired a new stake in shares of Visa during the second quarter valued at $122,000. SpiderRock Advisors LLC increased its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares during the period. Advantage Investment Management LLC increased its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares during the period. Finally, Delta Asset Management LLC TN increased its stake in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares during the period. Institutional investors own 82.46% of the company’s stock.
Visa Inc. (V) traded up 0.60% during mid-day trading on Friday, reaching $100.09. 5,267,114 shares of the company’s stock traded hands. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $101.72. The company has a 50-day moving average of $97.57 and a 200-day moving average of $91.96. The company has a market capitalization of $228.85 billion, a price-to-earnings ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Equities research analysts expect that Visa Inc. will post $3.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.66%. Visa’s dividend payout ratio is presently 24.54%.
Visa announced that its board has approved a stock buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
V has been the subject of several recent research reports. Oppenheimer Holdings, Inc. increased their target price on shares of Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Citigroup Inc. reiterated a “buy” rating and set a $100.00 target price on shares of Visa in a research note on Thursday, May 25th. Instinet reiterated a “buy” rating and set a $105.00 target price (up previously from $103.00) on shares of Visa in a research note on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and set a $104.00 target price on shares of Visa in a research note on Sunday, April 23rd. Finally, Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $95.32 price objective for the company in a research report on Thursday, April 27th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by corporate 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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