Glenview Capital Management LLC grew its holdings in Visa Inc. (NYSE:V) by 12.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,111,904 shares of the credit-card processor’s stock after buying an additional 232,121 shares during the period. Visa accounts for about 1.2% of Glenview Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Glenview Capital Management LLC owned approximately 0.09% of Visa worth $187,685,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in V. Mercer Capital Advisers Inc. raised its holdings in Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after acquiring an additional 25 shares in the last quarter. Advantage Investment Management LLC raised its holdings in Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after acquiring an additional 314 shares in the last quarter. Delta Asset Management LLC TN raised its holdings in Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after acquiring an additional 38 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Visa in the 1st quarter valued at $153,000. Finally, Tarbox Group Inc. increased its stake in shares of Visa by 259.5% in the 1st quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock valued at $190,000 after purchasing an additional 1,544 shares during the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.
V has been the topic of several recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $100.00 target price on shares of Visa in a report on Thursday, May 25th. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Vetr downgraded Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a research note on Monday, June 5th. Wedbush reissued an “outperform” rating and issued a $100.00 price objective (up from $96.00) on shares of Visa in a research note on Tuesday, June 6th. Finally, BidaskClub downgraded Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $105.35.
Shares of Visa Inc. (V) traded down 0.74% during midday trading on Friday, hitting $105.30. 12,622,921 shares of the stock were exchanged. The firm’s 50-day moving average is $102.82 and its 200-day moving average is $95.21. The stock has a market cap of $192.63 billion, a price-to-earnings ratio of 39.14 and a beta of 0.94. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $106.83.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the prior year, the company posted $0.69 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities research analysts predict that Visa Inc. will post $3.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. Visa’s payout ratio is 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
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Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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