Lowe Brockenbrough & Co. Inc. boosted its holdings in shares of Visa Inc. (NYSE:V) by 49.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,196 shares of the credit-card processor’s stock after acquiring an additional 2,050 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Visa were worth $551,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Carret Asset Management LLC lifted its holdings in shares of Visa by 4.5% during 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 buying an additional 1,153 shares during the last quarter. DE Burlo Group Inc. lifted its holdings in shares of Visa by 65.9% during the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock valued at $12,886,000 after buying an additional 57,600 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its holdings in shares of Visa by 5.6% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 5,470,559 shares of the credit-card processor’s stock valued at $486,168,000 after buying an additional 290,480 shares during the last quarter. British Airways Pensions Investment Management Ltd lifted its holdings in shares of Visa by 100.4% during the 1st quarter. British Airways Pensions Investment Management Ltd now owns 658,038 shares of the credit-card processor’s stock valued at $58,449,000 after buying an additional 329,750 shares during the last quarter. Finally, Peoples Financial Services CORP. lifted its holdings in shares of Visa by 1.2% during the 1st quarter. Peoples Financial Services CORP. now owns 77,658 shares of the credit-card processor’s stock valued at $6,902,000 after buying an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 81.74% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded down 0.66% during mid-day trading on Wednesday, reaching $105.51. The company had a trading volume of 2,649,356 shares. The stock has a market capitalization of $241.24 billion, a P/E ratio of 39.24 and a beta of 0.94. The firm’s 50 day moving average is $102.17 and its 200-day moving average is $94.80. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.26.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping 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 analyst estimates of $4.36 billion. During the same quarter last year, the company earned $0.69 EPS. The company’s revenue was up 25.8% on a year-over-year basis. On average, analysts expect that Visa Inc. will post $3.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
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V has been the subject of several research reports. Citigroup Inc. reiterated a “buy” rating and set a $100.00 price target on shares of Visa in a report on Thursday, May 25th. UBS AG reiterated an “overweight” rating on shares of Visa in a report on Thursday, August 24th. Deutsche Bank AG lifted their price target on Visa from $124.00 to $150.00 and gave the company 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. Finally, Nomura lifted their price target on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Four analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $104.90.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were 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 in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
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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