Stokes Capital Advisors LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 6.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,808 shares of the credit-card processor’s stock after purchasing an additional 1,374 shares during the quarter. Visa makes up about 2.1% of Stokes Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Stokes Capital Advisors LLC’s holdings in Visa were worth $5,041,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Visa in the fourth quarter valued at about $3,305,348,000. Morgan Stanley boosted its stake in shares of Visa by 20.2% in the 4th quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock valued at $8,922,767,000 after purchasing an additional 6,857,457 shares in the last quarter. Viking Global Investors LP raised its holdings in Visa by 1,170.4% in the 4th quarter. Viking Global Investors LP now owns 4,085,538 shares of the credit-card processor’s stock valued at $893,630,000 after buying an additional 3,763,943 shares during the last quarter. Egerton Capital UK LLP raised its holdings in Visa by 98.4% in the 4th quarter. Egerton Capital UK LLP now owns 4,194,576 shares of the credit-card processor’s stock valued at $917,480,000 after buying an additional 2,080,265 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Visa by 2.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 77,974,988 shares of the credit-card processor’s stock worth $17,039,976,000 after purchasing an additional 2,064,562 shares during the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, President Ryan Mcinerney sold 11,193 shares of the firm’s stock in a transaction that occurred on Monday, February 8th. The shares were sold at an average price of $210.00, for a total value of $2,350,530.00. Following the sale, the president now owns 11,193 shares in the company, valued at $2,350,530. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rajat Taneja sold 31,750 shares of the stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $223.00, for a total transaction of $7,080,250.00. Following the completion of the transaction, the insider now owns 282,606 shares of the company’s stock, valued at $63,021,138. The disclosure for this sale can be found here. Over the last three months, insiders sold 93,093 shares of company stock valued at $20,418,578. 0.19% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, January 28th. The credit-card processor reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.14. Visa had a net margin of 49.74% and a return on equity of 37.22%. The firm had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $5.52 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s revenue was down 6.1% on a year-over-year basis. On average, equities research analysts predict that Visa Inc. will post 5.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Friday, February 12th were given a $0.32 dividend. The ex-dividend date was Thursday, February 11th. This represents a $1.28 dividend on an annualized basis and a yield of 0.57%. Visa’s payout ratio is currently 25.40%.
V has been the subject of several research analyst reports. Credit Suisse Group lifted their price objective on shares of Visa from $255.00 to $265.00 and gave the company an “outperform” rating in a research note on Friday, January 29th. Jefferies Financial Group raised shares of Visa from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $250.00 in a report on Wednesday, January 13th. KeyCorp lifted their target price on Visa from $210.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 13th. Sanford C. Bernstein initiated coverage on Visa in a research note on Tuesday, January 26th. They issued an “outperform” rating and a $232.00 price objective on the stock. Finally, Morgan Stanley upped their price target on Visa from $253.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $229.00.
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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