Edmond DE Rothschild Holding S.A. increased its position in Visa Inc. (NYSE:V) by 37.4% during the first quarter, Holdings Channel reports. The firm owned 152,209 shares of the credit-card processor’s stock after buying an additional 41,422 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Visa were worth $13,526,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in V. Vicus Capital increased its stake in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares in the last quarter. Maltese Capital Management LLC acquired a new stake in Visa during the fourth quarter worth approximately $1,365,000. Wills Financial Group Inc. increased its stake in Visa by 27.1% in the fourth quarter. Wills Financial Group Inc. now owns 18,774 shares of the credit-card processor’s stock worth $1,465,000 after buying an additional 4,008 shares in the last quarter. Comprehensive Portfolio Management LLC acquired a new stake in Visa during the fourth quarter worth approximately $741,000. Finally, Pacific Center for Financial Services acquired a new stake in Visa during the fourth quarter worth approximately $138,000. 82.46% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded down 0.65% during mid-day trading on Thursday, hitting $100.31. The company had a trading volume of 1,731,990 shares. The stock’s 50-day moving average is $97.43 and its 200-day moving average is $91.91. The stock has a market cap of $229.35 billion, a price-to-earnings ratio of 37.30 and a beta of 0.94. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $101.72.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. Equities analysts forecast that Visa Inc. will post $3.43 earnings per share for the current year.
Visa declared that its Board of Directors has approved a share buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase 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 stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a $0.165 dividend. 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 currently 24.54%.
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A number of research firms have commented on V. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Tuesday, August 1st. Citigroup Inc. restated a “buy” rating and issued a $115.00 target price (up previously from $100.00) on shares of Visa in a research report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and issued a $100.00 target price (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the company a “buy” rating in a research report on Saturday, July 22nd. Four 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. Visa has a consensus rating of “Buy” and an average target price of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by 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.
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