Giverny Capital Inc. lifted its stake in shares of Visa Inc. (NYSE:V) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,801 shares of the credit-card processor’s stock after purchasing an additional 3,500 shares during the quarter. Visa comprises approximately 5.1% of Giverny Capital Inc.’s portfolio, making the stock its 7th biggest position. Giverny Capital Inc.’s holdings in Visa were worth $31,679,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its stake in shares of Visa by 0.9% during 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 purchasing an additional 722,878 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Visa by 0.4% during 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 acquiring an additional 73,926 shares during the period. Fisher Asset Management LLC grew its holdings in Visa by 3.0% during 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 acquiring an additional 452,183 shares during the period. MUFG Securities EMEA plc grew its holdings in Visa by 7.0% during 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 acquiring an additional 775,000 shares during the period. Finally, Clearbridge Investments LLC grew its holdings in Visa by 41.4% during the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after acquiring an additional 2,677,533 shares during the period. Institutional investors and hedge funds own 81.75% of the company’s stock.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The firm had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 13.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.78 dividend on an annualized basis and a yield of 0.70%. This is an increase from Visa’s previous quarterly dividend of $0.17. Visa’s payout ratio is 23.57%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.
A number of brokerages recently weighed in on V. Instinet upped their price objective 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 price objective (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 price objective (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, BidaskClub lowered Visa from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $116.08.
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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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