Edgewood Management LLC Has $2.12 Billion Stake in Visa Inc (NYSE:V)

Edgewood Management LLC grew its position in Visa Inc (NYSE:V) by 1.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,171,726 shares of the credit-card processor’s stock after acquiring an additional 243,957 shares during the period. Visa comprises about 7.0% of Edgewood Management LLC’s portfolio, making the stock its largest holding. Edgewood Management LLC owned 0.68% of Visa worth $2,122,228,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stephenson National Bank & Trust acquired a new stake in shares of Visa during the 4th quarter worth about $28,000. AlphaMark Advisors LLC lifted its stake in shares of Visa by 57.8% during the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after buying an additional 63 shares during the last quarter. Laffer Investments acquired a new stake in shares of Visa during the 4th quarter worth about $31,000. Accurate Investment Solutions Inc. lifted its stake in shares of Visa by 117.1% during the 1st quarter. Accurate Investment Solutions Inc. now owns 241 shares of the credit-card processor’s stock worth $39,000 after buying an additional 130 shares during the last quarter. Finally, Lloyd Advisory Services LLC. acquired a new stake in Visa in the 4th quarter worth about $43,000. Institutional investors own 81.59% of the company’s stock.

V has been the subject of several analyst reports. Oppenheimer initiated coverage on shares of Visa in a research note on Monday. They issued an “outperform” rating for the company. Wedbush lifted their price objective on shares of Visa from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday. UBS Group dropped their price objective on shares of Visa from $190.00 to $188.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Morgan Stanley lifted their price objective on shares of Visa from $183.00 to $196.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group cut shares of Visa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $190.00 to $180.00 in a research note on Wednesday, April 15th. Five research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $204.18.

In other Visa news, President Ryan Mcinerney sold 26,150 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the sale, the chief executive officer now directly owns 139,090 shares in the company, valued at $25,283,780.20. The disclosure for this sale can be found here. Insiders have sold a total of 40,150 shares of company stock worth $7,419,661 over the last three months. Insiders own 0.19% of the company’s stock.

Shares of Visa stock traded up $1.27 during midday trading on Tuesday, hitting $195.62. 4,115,465 shares of the company traded hands, compared to its average volume of 8,988,247. The stock has a market cap of $379.45 billion, a price-to-earnings ratio of 35.24, a PEG ratio of 3.10 and a beta of 0.93. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s fifty day moving average price is $179.54 and its 200-day moving average price is $184.18. Visa Inc has a 12 month low of $133.93 and a 12 month high of $214.17.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The company had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same period in the previous year, the firm posted $1.31 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Equities research analysts forecast that Visa Inc will post 4.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, May 13th. Visa’s payout ratio is 22.06%.

About Visa

Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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