Tower View Investment Management & Research LLC acquired a new stake in Visa (NYSE:V) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 19,773 shares of the credit-card processor’s stock, valued at approximately $2,255,000. Visa comprises approximately 2.1% of Tower View Investment Management & Research LLC’s holdings, making the stock its 13th largest holding.
A number of other institutional investors and hedge funds have also recently made changes to their positions in V. Vanguard Group Inc. lifted its stake in shares of Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. BlackRock Inc. lifted its stake in shares of Visa by 1.3% in the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. Jennison Associates LLC lifted its stake in shares of Visa by 1.0% in the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after purchasing an additional 209,764 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Visa by 9.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after purchasing an additional 1,624,700 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Visa by 2.8% in the 4th quarter. Fisher Asset Management LLC now owns 16,419,486 shares of the credit-card processor’s stock valued at $1,872,150,000 after purchasing an additional 448,015 shares during the period. Hedge funds and other institutional investors own 81.47% of the company’s stock.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
Shares of Visa stock opened at $117.00 on Friday. The company has a market capitalization of $247,243.84, a price-to-earnings ratio of 38.87, a P/E/G ratio of 1.58 and a beta of 0.99. Visa has a 12 month low of $88.07 and a 12 month high of $126.88. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.07 and a current ratio of 2.07.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. analysts expect that Visa will post 4.38 earnings per share for the current fiscal year.
Visa announced that its board has initiated a stock buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th were paid a $0.21 dividend. This is an increase from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 0.72%. Visa’s dividend payout ratio (DPR) is currently 27.91%.
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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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