Arlington Financial Advisors LLC bought a new position in shares of Visa (NYSE:V) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,100 shares of the credit-card processor’s stock, valued at approximately $263,000.
Other hedge funds have also recently modified their holdings of the company. Krilogy Financial LLC boosted its stake in Visa by 0.3% in the second quarter. Krilogy Financial LLC now owns 2,572 shares of the credit-card processor’s stock valued at $241,000 after acquiring an additional 7 shares in the last quarter. Raab & Moskowitz Asset Management LLC boosted its stake in Visa by 0.5% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 7,428 shares of the credit-card processor’s stock valued at $739,000 after acquiring an additional 38 shares in the last quarter. Westside Investment Management Inc. boosted its stake in Visa by 2.4% in the second quarter. Westside Investment Management Inc. now owns 1,680 shares of the credit-card processor’s stock valued at $160,000 after acquiring an additional 40 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in Visa by 1.3% in the second quarter. Arete Wealth Advisors LLC now owns 4,252 shares of the credit-card processor’s stock valued at $399,000 after acquiring an additional 56 shares in the last quarter. Finally, Comerica Securities Inc. boosted its stake in Visa by 0.4% in the second quarter. Comerica Securities Inc. now owns 18,509 shares of the credit-card processor’s stock valued at $1,736,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.
In other Visa news, EVP Lynne Biggar sold 1,712 shares of the 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.10. The firm had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share. sell-side analysts predict that Visa will post 4.38 EPS for the current fiscal year.
Visa declared that its Board of Directors has initiated a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several equities analysts have issued reports on the stock. ValuEngine upgraded shares of Visa from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Cantor Fitzgerald upped their price objective on shares of Visa to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Vetr downgraded shares of Visa from a “strong-buy” rating to a “buy” rating and set a $135.00 price objective for the company. in a research note on Thursday. Cowen restated a “buy” rating and issued a $129.00 price objective on shares of Visa in a research note on Friday, January 12th. Finally, Loop Capital upped their target price on shares of Visa to $142.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $134.97.
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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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