7,760 Shares in Visa Inc. (V) Acquired by First Foundation Advisors
First Foundation Advisors purchased a new stake in shares of Visa Inc. (NYSE:V) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,760 shares of the credit-card processor’s stock, valued at approximately $690,000.
Several other institutional investors have also made changes to their positions in V. Mercer Capital Advisers Inc. raised its position 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 valued at $104,000 after buying an additional 25 shares during the last quarter. Delta Asset Management LLC TN raised its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Visa during the first quarter valued at about $153,000. Tarbox Group Inc. raised its position in Visa by 259.5% in the first quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock valued at $190,000 after buying an additional 1,544 shares during the last quarter. Finally, Adirondack Trust Co. raised its position in Visa by 1.6% in the first quarter. Adirondack Trust Co. now owns 2,195 shares of the credit-card processor’s stock valued at $195,000 after buying an additional 35 shares during the last quarter. 81.74% of the stock is currently owned by institutional investors and hedge funds.
Visa Inc. (NYSE V) traded down 0.08% during trading on Tuesday, reaching $103.70. The company’s stock had a trading volume of 1,111,034 shares. The firm has a market capitalization of $237.10 billion, a P/E ratio of 38.56 and a beta of 0.94. The firm has a 50-day moving average price of $99.99 and a 200-day moving average price of $93.46. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $104.20.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
The company 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 of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Visa’s dividend payout ratio is 24.54%.
Several equities analysts recently issued reports on V shares. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $95.32 target price on the stock. in a research note on Wednesday, May 3rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $100.00 price target on shares of Visa in a research report on Thursday, May 25th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Finally, BidaskClub lowered Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. Visa has an average rating of “Buy” and a consensus price target of $104.76.
In related news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction 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 $1,751,797.60. The disclosure for this sale can be found here. 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.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).
Receive News & Stock Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related stocks with our FREE daily email newsletter.