Trust Co raised its stake in Visa Inc. (NYSE:V) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,574 shares of the credit-card processor’s stock after purchasing an additional 1,337 shares during the quarter. Trust Co’s holdings in Visa were worth $3,162,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Clearbridge Investments LLC boosted its stake in shares of Visa by 41.4% during the 1st quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock worth $812,776,000 after acquiring an additional 2,677,533 shares during the period. Swiss National Bank boosted its stake in shares of Visa by 23.2% during the 1st quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after acquiring an additional 1,388,200 shares during the period. Akre Capital Management LLC boosted its stake in shares of Visa by 35.0% during the 1st quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock worth $434,487,000 after acquiring an additional 1,267,080 shares during the period. Karp Capital Management Corp boosted its stake in shares of Visa by 3,256.5% during the 1st quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after acquiring an additional 941,581 shares during the period. Finally, MUFG Securities EMEA plc boosted its stake in shares of Visa by 7.0% during the 1st quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,045,864,000 after acquiring an additional 775,000 shares during the period. Hedge funds and other institutional investors own 81.74% of the company’s stock.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Visa Inc. (V) traded down 0.74% on Friday, reaching $105.30. The company had a trading volume of 12,622,921 shares. Visa Inc. has a one year low of $75.17 and a one year high of $106.84. The company’s 50 day moving average is $102.82 and its 200-day moving average is $95.21. The firm has a market capitalization of $240.76 billion, a price-to-earnings ratio of 39.16 and a beta of 0.94.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue was up 25.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 EPS. On average, equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were given a dividend of $0.165 per share. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.63%. Visa’s payout ratio is 24.54%.
V has been the subject of several research analyst reports. Oppenheimer Holdings, Inc. lifted their target price on Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $100.12 target price for the company in a research note on Tuesday, June 27th. Mizuho assumed coverage on Visa in a research note on Tuesday, June 27th. They set a “buy” rating and a $115.00 target price for the company. Jefferies Group LLC restated a “buy” rating and issued a $104.00 price target on shares of Visa in a research note on Sunday, June 25th. Finally, BidaskClub downgraded Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Four analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $105.35.
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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