American Century Companies Inc. Has $987.11 Million Position in Visa Inc. (V)
American Century Companies Inc. cut its position in Visa Inc. (NYSE:V) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,107,363 shares of the credit-card processor’s stock after selling 364,700 shares during the period. Visa makes up 1.0% of American Century Companies Inc.’s holdings, making the stock its 8th largest position. American Century Companies Inc. owned 0.48% of Visa worth $987,111,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL bought a new position in Visa during the fourth quarter valued at approximately $1,104,000. Capital International Inc. CA increased its stake in shares of Visa by 32.1% in the fourth quarter. Capital International Inc. CA now owns 157,800 shares of the credit-card processor’s stock valued at $12,312,000 after buying an additional 38,300 shares during the period. Private Trust Co. NA increased its stake in Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock worth $3,287,000 after buying an additional 4,138 shares during the last quarter. West Oak Capital LLC increased its stake in Visa by 20.0% in the first quarter. West Oak Capital LLC now owns 3,589 shares of the credit-card processor’s stock worth $319,000 after buying an additional 598 shares during the last quarter. Finally, Archon Partners LLC boosted its position in shares of Visa by 0.3% in the fourth quarter. Archon Partners LLC now owns 101,560 shares of the credit-card processor’s stock worth $7,924,000 after buying an additional 260 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc. (NYSE:V) traded up 0.34% during mid-day trading on Friday, reaching $102.51. 5,670,884 shares of the company were exchanged. The company has a market capitalization of $234.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.94. The firm’s 50-day moving average is $98.78 and its 200-day moving average is $92.76. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $103.93. Visa also was the recipient of unusually large options trading activity on Wednesday. Investors bought 12,583 put options on the stock. This represents an increase of approximately 163% compared to the average volume of 4,785 put options.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. On average, equities analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has authorized a share buyback program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.64%. Visa’s dividend payout ratio is 24.54%.
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A number of brokerages have recently commented on V. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $112.00 price objective for the company in a report on Tuesday, August 1st. Citigroup Inc. restated a “buy” rating and set a $115.00 price objective (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $100.00 target price (up 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 equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated 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 sale, the executive vice president now directly 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 is available through this hyperlink. Company insiders own 0.14% of the company’s stock.
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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