Visa Inc. (V) is Fisher Asset Management LLC’s 6th Largest Position
Fisher Asset Management LLC reduced its stake in shares of Visa Inc. (NYSE:V) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,764,995 shares of the credit-card processor’s stock after selling 58,965 shares during the period. Visa makes up 2.2% of Fisher Asset Management LLC’s portfolio, making the stock its 6th largest position. Fisher Asset Management LLC owned 0.63% of Visa worth $1,221,065,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in V. First Republic Investment Management Inc. increased its stake in 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 valued at $58,299,000 after buying an additional 41,585 shares during the period. Lebenthal Asset Management LLC purchased a new position in shares of Visa during the first quarter worth approximately $668,000. Origin Asset Management LLP increased its position in shares of Visa by 21.4% in the first quarter. Origin Asset Management LLP now owns 110,462 shares of the credit-card processor’s stock worth $8,448,000 after buying an additional 19,486 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Visa during the first quarter worth approximately $284,000. Finally, SevenBridge Financial Group LLC purchased a new position in shares of Visa during the first quarter worth approximately $1,116,000. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Shares of Visa Inc. (NYSE:V) opened at 79.08 on Tuesday. The stock’s 50 day moving average is $81.48 and its 200-day moving average is $80.04. Visa Inc. has a 52-week low of $66.12 and a 52-week high of $83.96. The firm has a market cap of $185.05 billion, a P/E ratio of 31.24 and a beta of 1.00.
Visa (NYSE:V) last released its earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The company had revenue of $4.26 billion for the quarter. During the same period last year, the firm earned $0.62 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Equities analysts anticipate that Visa Inc. will post $3.29 earnings per share 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 paid a $0.165 dividend. This is a boost from Visa’s previous quarterly dividend of $0.14. The ex-dividend date is Wednesday, November 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.83%. Visa’s payout ratio is presently 26.72%.
A number of equities analysts have recently weighed in on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $94.00 price target on shares of Visa in a research note on Friday, August 5th. Vetr cut shares of Visa from a “buy” rating to a “hold” rating and set a $83.12 price target on the stock. in a research note on Monday, August 8th. Pacific Crest reaffirmed a “buy” rating and set a $92.00 price target on shares of Visa in a research note on Thursday, August 25th. Robert W. Baird upped their price target on shares of Visa from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $87.00 price target on shares of Visa in a research note on Tuesday, September 6th. Seven equities research 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 price target of $90.84.
In other news, President Ryan Mcinerney sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total transaction of $1,534,020.00. Following the completion of the transaction, the president now directly owns 12,548 shares in the company, valued at $1,040,480.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charles W. Scharf sold 772,912 shares of the company’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 value of $63,881,176.80. Following the transaction, the insider now owns 852,880 shares of the company’s stock, valued at $70,490,532. The disclosure for this sale can be found here. 0.17% of the stock is 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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