Visa Inc. (NYSE:V) Shares Sold by Weatherly Asset Management L. P.
Weatherly Asset Management L. P. lowered its stake in Visa Inc. (NYSE:V) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,841 shares of the credit-card processor’s stock after selling 173 shares during the period. Weatherly Asset Management L. P.’s holdings in Visa were worth $519,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Integrated Investment Consultants LLC boosted its position in shares of Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares during the period. Mercer Capital Advisers Inc. boosted its stake in Visa by 2.2% in the first 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 during the last quarter. Nicolet Bankshares Inc. boosted its stake in Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock worth $828,000 after buying an additional 27 shares during the last quarter. Weybosset Research & Management LLC boosted its stake in Visa by 1.1% in the first quarter. Weybosset Research & Management LLC now owns 2,885 shares of the credit-card processor’s stock worth $256,000 after buying an additional 30 shares during the last quarter. Finally, Adirondack Trust Co. boosted its stake in Visa by 1.6% in the first quarter. Adirondack Trust Co. now owns 2,195 shares of the credit-card processor’s stock worth $195,000 after buying an additional 35 shares during the last quarter. 82.02% of the stock is owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded up 0.30% during trading on Friday, hitting $100.89. The stock had a trading volume of 4,586,226 shares. The stock’s 50-day moving average is $96.32 and its 200-day moving average is $91.20. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $101.34. The stock has a market cap of $230.68 billion, a price-to-earnings ratio of 37.52 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post $3.43 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is 24.54%.
Visa declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
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Several research analysts have recently commented on V shares. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $95.32 price objective for the company in a report on Thursday, April 27th. Wedbush restated an “outperform” rating and issued a $100.00 target price (up previously from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Loop Capital boosted their price objective on 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. Royal Bank Of Canada boosted their price objective on Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Finally, Deutsche Bank AG upped their price target on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Four research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.
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.
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