Viking Fund Management LLC raised its stake in Visa Inc. (NYSE:V) by 27.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 14,000 shares of the credit-card processor’s stock after buying an additional 3,000 shares during the period. Viking Fund Management LLC’s holdings in Visa were worth $1,313,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in V. Mercer Capital Advisers Inc. boosted its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC acquired a new stake in shares of Visa during the second quarter valued at approximately $122,000. SpiderRock Advisors LLC boosted its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC boosted its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its stake in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.
Visa Inc. (V) traded down 1.32% during mid-day trading on Thursday, reaching $99.64. The company had a trading volume of 4,107,871 shares. Visa Inc. has a one year low of $75.17 and a one year high of $101.72. The company’s 50-day moving average is $97.43 and its 200-day moving average is $91.91. The stock has a market capitalization of $227.82 billion, a PE ratio of 37.05 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is currently 24.54%.
Visa announced that its board has initiated a stock buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages have recently commented on V. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 target price on the stock in a report on Thursday, April 27th. Wedbush restated an “outperform” rating and set a $100.00 target price (up previously from $96.00) on shares of Visa in a report on Tuesday, June 6th. Loop Capital increased their target price on Visa from $101.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Royal Bank Of Canada increased their target price on Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, Deutsche Bank AG increased their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. Visa presently has a consensus rating of “Buy” and an average price target of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction dated 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by company 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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