Troy Asset Management Ltd Invests $10.16 Million in Visa Inc (V) Stock

Troy Asset Management Ltd bought a new position in shares of Visa Inc (NYSE:V) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 96,577 shares of the credit-card processor’s stock, valued at approximately $10,164,000. Visa comprises approximately 0.5% of Troy Asset Management Ltd’s investment portfolio, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wallington Asset Management LLC lifted its stake in shares of Visa by 3.8% in the 2nd quarter. Wallington Asset Management LLC now owns 57,779 shares of the credit-card processor’s stock valued at $5,419,000 after acquiring an additional 2,090 shares during the last quarter. iAB Financial Bank lifted its stake in shares of Visa by 2.6% in the 2nd quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock valued at $5,342,000 after acquiring an additional 1,423 shares during the last quarter. Carret Asset Management LLC lifted its stake in shares of Visa by 4.5% in the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock valued at $2,403,000 after acquiring an additional 1,153 shares during the last quarter. Heritage Trust Co lifted its stake in shares of Visa by 51.4% in the 2nd quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after acquiring an additional 1,535 shares during the last quarter. Finally, Cypress Asset Management Inc. TX lifted its stake in shares of Visa by 31.1% in the 2nd quarter. Cypress Asset Management Inc. TX now owns 14,720 shares of the credit-card processor’s stock valued at $1,380,000 after acquiring an additional 3,495 shares during the last quarter. Hedge funds and other institutional investors own 81.49% of the company’s stock.

Shares of Visa Inc (NYSE:V) opened at $112.69 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.61. Visa Inc has a 1-year low of $77.90 and a 1-year high of $114.75. The firm has a market capitalization of $232,873.19, a PE ratio of 40.25, a price-to-earnings-growth ratio of 1.64 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the business posted $0.78 EPS. The business’s revenue was up 13.9% compared to the same quarter last year. sell-side analysts predict that Visa Inc will post 4.07 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 5th. Shareholders of record on Friday, November 17th were issued a dividend of $0.195 per share. This is an increase from Visa’s previous quarterly dividend of $0.17. This represents a $0.78 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, November 16th. Visa’s dividend payout ratio (DPR) is presently 27.86%.

V has been the subject of a number of research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $120.00 price target on shares of Visa in a research note on Wednesday, October 25th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Jefferies Group increased their price target on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Wells Fargo & Co upgraded Visa from a “market perform” rating to an “outperform” rating and increased their price target for the company from $107.01 to $120.00 in a research note on Tuesday, October 10th. Finally, Barclays raised their target price on Visa from $123.00 to $128.00 and gave the stock an “overweight” rating in a research report on Thursday, October 26th. Two investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $118.02.

In other news, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now directly owns 76,202 shares in the company, valued at approximately $8,661,119.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James H. Hoffmeister sold 2,146 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the sale, the senior vice president now owns 687 shares of the company’s stock, valued at $77,005.83. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,068 shares of company stock valued at $6,597,262. Company insiders own 0.14% of the company’s stock.

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About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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