Geode Capital Management LLC Has $2.32 Billion Stake in Visa (V)

Geode Capital Management LLC raised its holdings in shares of Visa (NYSE:V) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,412,345 shares of the credit-card processor’s stock after acquiring an additional 719,390 shares during the quarter. Visa makes up 0.8% of Geode Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Geode Capital Management LLC owned about 0.99% of Visa worth $2,322,847,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Roble Belko & Company Inc boosted its position in shares of Visa by 220.8% in the 4th quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after purchasing an additional 605 shares during the period. Welch Investments LLC acquired a new stake in shares of Visa in the 3rd quarter valued at about $101,000. AlphaOne Investment Services LLC acquired a new stake in shares of Visa in the 4th quarter valued at about $108,000. Fusion Family Wealth LLC boosted its position in shares of Visa by 138.8% in the 4th quarter. Fusion Family Wealth LLC now owns 955 shares of the credit-card processor’s stock valued at $109,000 after purchasing an additional 555 shares during the period. Finally, Massey Quick Simon & CO. LLC acquired a new stake in shares of Visa in the 3rd quarter valued at about $110,000. 82.07% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on the company. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Friday, May 4th. Buckingham Research upped their price objective on Visa from $150.00 to $152.00 and gave the company a “buy” rating in a research note on Thursday, April 26th. Morgan Stanley upped their price objective on Visa from $140.00 to $142.00 and gave the company an “overweight” rating in a research note on Thursday, April 26th. Argus upped their price objective on Visa from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, April 27th. Finally, Cantor Fitzgerald upped their price objective on Visa to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $137.42.

V opened at $129.93 on Friday. The company has a market capitalization of $267.96 billion, a P/E ratio of 37.34, a PEG ratio of 1.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.94 and a current ratio of 1.94. Visa has a 1-year low of $130.72 and a 1-year high of $131.39.

Visa (NYSE:V) last released its quarterly earnings results on Wednesday, April 25th. The credit-card processor reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Visa had a return on equity of 33.90% and a net margin of 48.18%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. equities research analysts forecast that Visa will post 4.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Investors of record on Friday, May 18th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, May 17th. Visa’s dividend payout ratio is currently 24.14%.

Visa announced that its Board of Directors has approved a share repurchase plan 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 plans are generally an indication that the company’s board believes its shares are undervalued.

In other Visa news, President Ryan Mcinerney sold 38,500 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $131.33, for a total transaction of $5,056,205.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 8,423 shares of the stock in a transaction on Monday, April 30th. The shares were sold at an average price of $127.67, for a total value of $1,075,364.41. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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