Glenview Capital Management LLC Acquires 232,121 Shares of Visa Inc. (V)
Glenview Capital Management LLC grew its holdings in Visa Inc. (NYSE:V) by 12.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,111,904 shares of the credit-card processor’s stock after buying an additional 232,121 shares during the period. Visa makes up 1.2% of Glenview Capital Management LLC’s portfolio, making the stock its 26th largest holding. Glenview Capital Management LLC owned approximately 0.09% of Visa worth $187,685,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Mercer Capital Advisers Inc. grew its stake in shares of Visa by 2.2% in the 1st 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 in the last quarter. Advantage Investment Management LLC grew its stake in shares of Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares in the last quarter. Delta Asset Management LLC TN grew its stake in shares of Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after buying an additional 38 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Visa in the 1st quarter worth $153,000. Finally, Tarbox Group Inc. grew its stake in shares of Visa by 259.5% in the 1st quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock worth $190,000 after buying an additional 1,544 shares in the last quarter. 81.74% of the stock is owned by institutional investors and hedge funds.
In related news, Director Mary B. Cranston sold 10,400 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s 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 disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
V has been the subject of a number of recent research reports. Citigroup Inc. reissued a “buy” rating and issued a $100.00 price objective on shares of Visa in a research note on Thursday, May 25th. UBS AG reissued an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Deutsche Bank AG lifted their price objective on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Vetr cut shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective for the company. in a research note on Monday, June 5th. Finally, Nomura lifted their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $104.77.
Visa Inc. (NYSE V) traded down 0.12% on Friday, hitting $104.43. 5,787,188 shares of the company traded hands. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $105.44. The firm has a market capitalization of $238.77 billion, a P/E ratio of 38.84 and a beta of 0.94. The stock’s 50-day moving average is $101.98 and its 200 day moving average is $94.58.
Visa (NYSE:V) last issued its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.69 earnings per share. Equities analysts forecast that Visa Inc. will post $3.42 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is 24.54%.
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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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