Visa Inc. (V) Shares Bought by Clearbridge Investments LLC
Clearbridge Investments LLC increased its position in Visa Inc. (NYSE:V) by 41.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,145,672 shares of the credit-card processor’s stock after buying an additional 2,677,533 shares during the period. Visa makes up about 0.8% of Clearbridge Investments LLC’s portfolio, making the stock its 22nd largest position. Clearbridge Investments LLC owned approximately 0.40% of Visa worth $812,776,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in V. Integrated Investment Consultants LLC raised 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. raised its position in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares during the period. Smithfield Trust Co. raised its position in shares of Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares during the period. Nicolet Bankshares Inc. raised its position in shares of Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock valued at $828,000 after buying an additional 27 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock valued at $533,000 after buying an additional 27 shares during the period. Institutional investors own 82.29% of the company’s stock.
Shares of Visa Inc. (V) traded up 0.34% during trading on Friday, reaching $102.51. 5,670,884 shares of the company traded hands. The stock has a market capitalization of $234.38 billion, a PE ratio of 38.12 and a beta of 0.94. The company has a 50-day moving average of $98.78 and a 200-day moving average of $92.76. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $103.93.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the prior year, the company posted $0.69 earnings per share. Visa’s revenue was up 25.8% compared to the same quarter last year. Analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
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 paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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Several research analysts have recently commented on the stock. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price target on the stock in a research note on Tuesday, June 27th. Instinet increased their price target on shares of Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and set a $100.00 price target (up previously from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. restated a “buy” rating and set a $115.00 price target (up previously from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the 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 $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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