Logan Capital Management Inc. raised its stake in Visa Inc. (NYSE:V) by 1.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 18,640 shares of the credit-card processor’s stock after buying an additional 187 shares during the period. Logan Capital Management Inc.’s holdings in Visa were worth $1,657,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of V. Vicus Capital raised its stake in shares of Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 701 shares during the period. Putnam Investments LLC raised its stake in shares of Visa by 0.5% in the fourth quarter. Putnam Investments LLC now owns 5,472,318 shares of the credit-card processor’s stock valued at $426,950,000 after buying an additional 29,207 shares during the period. Jarislowsky Fraser Ltd bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,705,000. Maltese Capital Management LLC bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,365,000. Finally, Wills Financial Group Inc. raised its stake in shares of Visa by 27.1% in the fourth quarter. Wills Financial Group Inc. now owns 18,774 shares of the credit-card processor’s stock valued at $1,465,000 after buying an additional 4,008 shares during the period. 82.46% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (NYSE V) traded up 0.58% during midday trading on Friday, hitting $100.07. 1,569,831 shares of the stock were exchanged. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.72. The firm’s 50-day moving average is $97.57 and its 200-day moving average is $91.96. The stock has a market cap of $228.80 billion, a price-to-earnings ratio of 37.21 and a beta of 0.94.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company 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 firm’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. Equities research analysts predict that Visa Inc. will post $3.43 earnings per share for the current year.
Visa announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be given a dividend of $0.165 per share. 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%.
Several brokerages have commented on V. 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 report on Thursday, April 27th. Wedbush restated an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Visa in a report on Tuesday, June 6th. Loop Capital raised their price objective on shares of Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Royal Bank Of Canada raised their price objective on shares of Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, Deutsche Bank AG raised their price objective on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were 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 owns 17,360 shares in the company, valued at $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 company insiders.
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.
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:V).
What are top analysts saying about Visa Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Visa Inc. and related companies.