Glenview Capital Management LLC Acquires 232,121 Shares of Visa Inc. (NYSE:V)

Glenview Capital Management LLC lifted its holdings in Visa Inc. (NYSE:V) by 12.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,111,904 shares of the credit-card processor’s stock after purchasing an additional 232,121 shares during the period. Visa comprises 1.2% of Glenview Capital Management LLC’s holdings, making the stock its 26th biggest holding. Glenview Capital Management LLC owned about 0.09% of Visa worth $187,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. TNB Financial bought a new position in Visa during the first quarter valued at approximately $12,619,000. Horan Capital Management raised its position in Visa by 4.1% during the first quarter. Horan Capital Management now owns 225,260 shares of the credit-card processor’s stock valued at $20,018,000 after acquiring an additional 8,806 shares in the last quarter. Honkamp Krueger Financial Services Inc. raised its position in Visa by 3.0% during the first quarter. Honkamp Krueger Financial Services Inc. now owns 18,633 shares of the credit-card processor’s stock valued at $1,656,000 after acquiring an additional 549 shares in the last quarter. Private Trust Co. NA raised its position in shares of Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock valued at $3,287,000 after purchasing an additional 4,138 shares during the period. Finally, Weybosset Research & Management LLC raised its position in shares of Visa by 1.1% in the first quarter. Weybosset Research & Management LLC now owns 2,885 shares of the credit-card processor’s stock valued at $256,000 after purchasing an additional 30 shares during the period. Institutional investors own 81.68% of the company’s stock.

A number of equities analysts have recently commented on the stock. Wedbush reissued an “outperform” rating and issued a $100.00 price target (up previously from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Loop Capital lifted their price target on shares of Visa from $101.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 21st. They noted that the move was a valuation call. Deutsche Bank AG lifted their price target on shares of Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, July 10th. Instinet lifted their price target on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Visa currently has a consensus rating of “Buy” and a consensus price target of $106.42.

In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was 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 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 available through this hyperlink. Also, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction 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. 0.14% of the stock is owned by corporate insiders.

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Shares of Visa Inc. (NYSE:V) opened at 105.56 on Monday. The firm has a market capitalization of $241.36 billion, a price-to-earnings ratio of 39.26 and a beta of 0.94. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.84. The stock’s 50 day moving average price is $103.15 and its 200-day moving average price is $95.55.

Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts predict that Visa Inc. will post $3.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio is currently 24.54%.

Visa Company Profile

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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