OLD Mutual Customised Solutions Proprietary Ltd. increased its position in Visa Inc. (NYSE:V) by 32.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,828 shares of the credit-card processor’s stock after acquiring an additional 5,528 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Visa were worth $2,029,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of V. Swiss National Bank grew its holdings in shares of Visa by 23.2% in the first quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after acquiring an additional 1,388,200 shares during the period. Akre Capital Management LLC grew its holdings in shares of Visa by 35.0% in the first quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock worth $434,487,000 after acquiring an additional 1,267,080 shares during the period. Karp Capital Management Corp grew its holdings in shares of Visa by 3,256.5% in the first quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after acquiring an additional 941,581 shares during the period. MUFG Securities EMEA plc grew its holdings in shares of Visa by 7.0% in 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, C WorldWide Group Holding A S grew its holdings in shares of Visa by 10.2% in the first quarter. C WorldWide Group Holding A S now owns 8,379,106 shares of the credit-card processor’s stock worth $744,651,000 after acquiring an additional 773,707 shares during the period. 81.74% of the stock is owned by institutional investors.
Several analysts recently commented on V shares. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, May 29th. Deutsche Bank AG lifted their price objective on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Vetr lowered Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a report on Monday, June 5th. Wedbush reissued an “outperform” rating and set a $100.00 price target (up previously from $96.00) on shares of Visa in a report on Tuesday, June 6th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $104.00 price target on shares of Visa in a report on Sunday, June 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.77.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Shares of Visa Inc. (NYSE:V) traded down 0.33% during midday trading on Tuesday, reaching $105.80. The company’s stock had a trading volume of 2,690,919 shares. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.64. The company has a 50 day moving average price of $102.05 and a 200-day moving average price of $94.72. The stock has a market capitalization of $241.90 billion, a PE ratio of 39.35 and a beta of 0.94.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. On average, equities research analysts expect that Visa Inc. will post $3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date was Wednesday, August 16th. Visa’s payout ratio is presently 24.54%.
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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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