Marianas Fund Management LLC Sells 287,200 Shares of Visa Inc. (V)
Marianas Fund Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 63.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 162,800 shares of the credit-card processor’s stock after selling 287,200 shares during the period. Visa comprises 5.4% of Marianas Fund Management LLC’s investment portfolio, making the stock its 3rd largest position. Marianas Fund Management LLC’s holdings in Visa were worth $14,468,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vicus Capital boosted its stake in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 701 shares during the last quarter. Highbridge Capital Management LLC boosted its stake in Visa by 122.1% in the fourth quarter. Highbridge Capital Management LLC now owns 9,196 shares of the credit-card processor’s stock valued at $718,000 after buying an additional 50,796 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Visa during the fourth quarter valued at approximately $4,717,000. Kentucky Retirement Systems purchased a new stake in Visa during the fourth quarter valued at approximately $10,573,000. Finally, M Holdings Securities Inc. boosted its stake in Visa by 135.5% in the fourth quarter. M Holdings Securities Inc. now owns 14,090 shares of the credit-card processor’s stock valued at $1,099,000 after buying an additional 8,106 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
Visa Inc. (NYSE V) traded up 0.10% during midday trading on Thursday, reaching $103.42. The company had a trading volume of 1,532,634 shares. Visa Inc. has a one year low of $75.17 and a one year high of $103.93. The stock has a market capitalization of $236.46 billion, a price-to-earnings ratio of 38.46 and a beta of 0.94. The company has a 50-day moving average price of $98.38 and a 200-day moving average price of $92.56. Visa also saw some unusual options trading on Wednesday. Stock traders acquired 12,583 put options on the company. This is an increase of approximately 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.36 billion. During the same quarter in the previous year, the business earned $0.69 EPS. Visa’s revenue was up 25.8% compared to the same quarter last year. On average, equities analysts expect that Visa Inc. will post $3.43 earnings per share for the current year.
Visa declared that its Board of Directors has initiated a share repurchase plan on Thursday, April 20th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.64%. Visa’s dividend payout ratio is presently 24.54%.
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Several research firms have commented on V. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research report on Tuesday, August 1st. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 price target (up previously from $100.00) on shares of Visa in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $100.00 price target (up previously from $87.50) on shares of Visa in a research report on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the stock a “buy” rating in a research report on Saturday, July 22nd. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $104.56.
In related news, 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 transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by 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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