Searle & CO. Boosts Position in Visa Inc. (V)
Searle & CO. boosted its stake in shares of Visa Inc. (NYSE:V) by 455.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,790 shares of the credit-card processor’s stock after buying an additional 18,690 shares during the period. Visa comprises approximately 1.6% of Searle & CO.’s holdings, making the stock its 14th largest position. Searle & CO.’s holdings in Visa were worth $1,885,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Republic Investment Management Inc. boosted its position in shares of Visa by 5.8% in the first quarter. First Republic Investment Management Inc. now owns 762,294 shares of the credit-card processor’s stock worth $58,299,000 after buying an additional 41,585 shares during the last quarter. Lebenthal Asset Management LLC bought a new position in shares of Visa during the first quarter worth about $668,000. Origin Asset Management LLP boosted its position in Visa by 21.4% in the first quarter. Origin Asset Management LLP now owns 110,462 shares of the credit-card processor’s stock valued at $8,448,000 after buying an additional 19,486 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in Visa during the first quarter valued at $284,000. Finally, SevenBridge Financial Group LLC acquired a new position in Visa during the first quarter valued at $1,116,000. Institutional investors and hedge funds own 79.52% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded down 1.31% during mid-day trading on Monday, reaching $79.08. The company’s stock had a trading volume of 11,793,084 shares. The stock has a market cap of $185.05 billion, a P/E ratio of 31.24 and a beta of 1.00. The stock has a 50 day moving average of $81.48 and a 200-day moving average of $80.04. Visa Inc. has a one year low of $66.12 and a one year high of $83.96.
Visa (NYSE:V) last announced its quarterly earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $4.26 billion for the quarter. Visa had a net margin of 39.72% and a return on equity of 24.31%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, equities research analysts expect that Visa Inc. will post $3.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.82%. This is an increase from Visa’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 16th. Visa’s dividend payout ratio (DPR) is currently 26.72%.
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Several research firms have recently weighed in on V. Goldman Sachs Group Inc. restated a “buy” rating and issued a $96.00 price target on shares of Visa in a research note on Monday, October 24th. Citigroup Inc. restated a “buy” rating and issued a $92.00 price target on shares of Visa in a research note on Monday, October 24th. Guggenheim cut Visa from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $90.00 to $97.00 in a research note on Tuesday, October 25th. Stifel Nicolaus decreased their price target on Visa from $94.00 to $93.00 and set a “buy” rating for the company in a research note on Tuesday, October 25th. Finally, Royal Bank Of Canada boosted their price target on Visa from $87.00 to $89.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 25th. Seven investment analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $90.84.
In other Visa news, President Ryan Mcinerney sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the sale, the president now directly owns 12,548 shares in the company, valued at approximately $1,040,480.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles W. Scharf sold 772,912 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.65, for a total transaction of $63,881,176.80. Following the sale, the insider now owns 852,880 shares in the company, valued at $70,490,532. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.
Visa Company Profile
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.
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