Schmidt P J Investment Management Inc. raised its position in Visa Inc. (NYSE:V) by 1.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 59,779 shares of the credit-card processor’s stock after buying an additional 749 shares during the period. Visa comprises about 1.7% of Schmidt P J Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. Schmidt P J Investment Management Inc.’s holdings in Visa were worth $5,606,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock worth $7,418,151,000 after buying an additional 722,878 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock worth $1,625,097,000 after buying an additional 73,926 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock worth $1,464,483,000 after buying an additional 452,183 shares during the last quarter. MUFG Securities EMEA plc boosted its stake in Visa by 7.0% in the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,045,864,000 after buying an additional 775,000 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after buying an additional 2,677,533 shares during the last quarter. Institutional investors own 82.29% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.82% during mid-day trading on Friday, reaching $103.00. The company’s stock had a trading volume of 2,950,070 shares. The stock has a market capitalization of $235.50 billion, a P/E ratio of 38.30 and a beta of 0.94. The company’s 50-day moving average price is $98.54 and its 200-day moving average price is $92.63. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $103.93. Visa also was the target of some unusual options trading on Wednesday. Stock traders acquired 12,583 put options on the stock. This represents an increase of approximately 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
Visa declared that its board has authorized a stock repurchase plan on Thursday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts have recently commented on V shares. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 target price on the stock. in a research note on Monday, June 5th. CIBC boosted their price objective on Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group set a $112.00 price objective on Visa and gave the company a “buy” rating in a research note on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and a consensus price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’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 owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
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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