Baldwin Brothers Inc. MA trimmed its position in shares of Visa (NYSE:V) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 85,580 shares of the credit-card processor’s stock after selling 1,464 shares during the quarter. Visa comprises about 1.5% of Baldwin Brothers Inc. MA’s holdings, making the stock its 22nd biggest position. Baldwin Brothers Inc. MA’s holdings in Visa were worth $9,758,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Windsor Capital Management LLC increased its position in Visa by 14.4% during the fourth quarter. Windsor Capital Management LLC now owns 7,903 shares of the credit-card processor’s stock worth $901,000 after buying an additional 994 shares during the last quarter. Canal Capital Management LLC increased its position in Visa by 47.3% during the fourth quarter. Canal Capital Management LLC now owns 10,361 shares of the credit-card processor’s stock worth $1,181,000 after buying an additional 3,327 shares during the last quarter. Vantage Investment Advisors LLC increased its position in Visa by 2.1% during the fourth quarter. Vantage Investment Advisors LLC now owns 108,236 shares of the credit-card processor’s stock worth $12,330,000 after buying an additional 2,184 shares during the last quarter. APG Asset Management N.V. increased its position in Visa by 15.5% during the fourth quarter. APG Asset Management N.V. now owns 1,351,967 shares of the credit-card processor’s stock worth $128,374,000 after buying an additional 181,209 shares during the last quarter. Finally, Rathbone Brothers plc increased its position in Visa by 1.4% during the fourth quarter. Rathbone Brothers plc now owns 987,570 shares of the credit-card processor’s stock worth $112,603,000 after buying an additional 14,069 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.
In other news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last posted its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. Visa’s quarterly revenue was up 9.0% compared to the same quarter last year. sell-side analysts forecast that Visa will post 4.38 EPS for the current fiscal year.
Visa declared that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were paid a $0.21 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s payout ratio is 27.91%.
Several equities research analysts have recently issued reports on V shares. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price target on Visa and gave the company a “buy” rating in a research report on Monday, January 8th. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a research report on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $141.00 price target on shares of Visa in a research report on Friday, December 22nd. Finally, Cowen reaffirmed a “buy” rating and issued a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $134.14.
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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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