Assenagon Asset Management S.A. trimmed its position in Visa (NYSE:V) by 86.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,849 shares of the credit-card processor’s stock after selling 291,016 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Visa were worth $5,000,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Campbell Newman Asset Management Inc. increased its position in Visa by 1.6% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 154,254 shares of the credit-card processor’s stock worth $17,588,000 after acquiring an additional 2,367 shares during the period. YCG LLC increased its position in Visa by 12.1% during the fourth quarter. YCG LLC now owns 4,672 shares of the credit-card processor’s stock worth $533,000 after acquiring an additional 506 shares during the period. Middleton & Co Inc MA increased its position in Visa by 0.6% during the fourth quarter. Middleton & Co Inc MA now owns 126,452 shares of the credit-card processor’s stock worth $14,418,000 after acquiring an additional 749 shares during the period. Spence Asset Management bought a new position in Visa during the fourth quarter worth $11,901,000. Finally, Harvest Fund Management Co. Ltd increased its position in Visa by 33.6% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 3,407 shares of the credit-card processor’s stock worth $388,000 after acquiring an additional 857 shares during the period. Institutional investors and hedge funds own 81.47% of the company’s stock.
V has been the topic of several analyst reports. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Credit Suisse Group set a $129.00 price target on shares of Visa and gave the company a “buy” rating in a report on Monday, January 8th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 price target on the stock. in a report on Monday, January 8th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $141.00 price target on shares of Visa in a report on Friday, December 22nd. Finally, Cowen reissued a “buy” rating and issued a $129.00 price target on shares of Visa in a report on Friday, January 12th. Two investment 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 stock. The company has an average rating of “Buy” and an average price target of $134.14.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. analysts forecast that Visa will post 4.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a dividend of $0.21 per share. This is an increase from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.84 annualized dividend and a yield of 0.72%. Visa’s dividend payout ratio is 27.91%.
Visa declared that its Board of Directors has initiated a stock buyback program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.
Visa Company Profile
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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