Korea Investment CORP increased its holdings in Visa Inc. (NYSE:V) by 4.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,265,304 shares of the credit-card processor’s stock after buying an additional 53,824 shares during the quarter. Korea Investment CORP owned about 0.06% of Visa worth $118,660,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Mercer Capital Advisers Inc. grew 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 worth $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC bought a new position in Visa in the 2nd quarter worth approximately $122,000. SpiderRock Advisors LLC grew its holdings in Visa by 107.1% in the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC grew 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 worth $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN grew 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 worth $137,000 after buying an additional 38 shares in the last quarter. 81.68% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) opened at 108.11 on Friday. The stock has a market capitalization of $247.19 billion, a price-to-earnings ratio of 40.20 and a beta of 0.93. Visa Inc. has a one year low of $75.17 and a one year high of $108.71. The company’s 50 day moving average price is $105.03 and its 200 day moving average price is $97.44.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the 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 net margin of 36.53% and a return on equity of 30.95%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 EPS. On average, analysts expect that Visa Inc. will post $3.42 earnings per share for the current fiscal year.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total transaction of $1,074,528.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,751,797.60. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
A number of equities analysts recently issued reports on V shares. Oppenheimer Holdings, Inc. increased their price objective on Visa from $100.00 to $106.00 in a report on Tuesday, July 18th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a report on Tuesday, June 27th. Mizuho assumed coverage on Visa in a report on Tuesday, June 27th. They issued a “buy” rating and a $115.00 price objective for the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $104.00 price target on shares of Visa in a research note on Sunday, June 25th. Finally, BidaskClub raised Visa from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. Visa has an average rating of “Buy” and an average price target of $109.40.
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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