Jennison Associates LLC Has $2.38 Billion Holdings in Visa (V)

Jennison Associates LLC cut its holdings in Visa (NYSE:V) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 20,903,001 shares of the credit-card processor’s stock after selling 380,465 shares during the period. Visa comprises about 2.4% of Jennison Associates LLC’s investment portfolio, making the stock its 6th biggest holding. Jennison Associates LLC’s holdings in Visa were worth $2,383,360,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Welch Investments LLC acquired a new position in shares of Visa during the third quarter worth about $101,000. Cordasco Financial Network acquired a new position in shares of Visa during the third quarter worth about $105,000. Massey Quick Simon & CO. LLC acquired a new position in shares of Visa during the third quarter worth about $110,000. MPS Loria Financial Planners LLC acquired a new position in shares of Visa during the second quarter worth about $123,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of Visa during the second quarter worth about $125,000. Institutional investors own 81.47% of the company’s stock.

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In other Visa 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 value of $205,440.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

V has been the topic of a number of recent analyst reports. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $115.24 price target on the stock in a research note on Monday, December 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $141.00 price target on shares of Visa in a research note on Friday, December 22nd. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Susquehanna Bancshares boosted their price objective on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Finally, Barclays reissued a “buy” rating and set a $145.00 price objective on shares of Visa in a report on Friday, January 5th. Two 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. Visa has a consensus rating of “Buy” and a consensus target price of $134.14.

Shares of Visa stock opened at $117.00 on Friday. Visa has a fifty-two week low of $88.07 and a fifty-two week high of $126.88. The stock has a market cap of $247,243.84, a PE ratio of 38.87, a price-to-earnings-growth ratio of 1.58 and a beta of 0.99. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities research analysts expect that Visa will post 4.38 EPS for the current fiscal year.

Visa announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is 27.91%.

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Visa 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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Institutional Ownership by Quarter for Visa (NYSE:V)

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