Puzo Michael J Has $969,000 Position in Visa Inc. (V)
Puzo Michael J decreased its position in Visa Inc. (NYSE:V) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,320 shares of the credit-card processor’s stock after selling 200 shares during the period. Puzo Michael J’s holdings in Visa were worth $969,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in V. Clearbridge Investments LLC lifted its holdings in Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after buying an additional 2,677,533 shares during the period. Swiss National Bank lifted its holdings in Visa by 23.2% in the first quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock valued at $654,121,000 after buying an additional 1,388,200 shares during the period. Akre Capital Management LLC lifted its holdings in Visa by 35.0% in the first quarter. Akre Capital Management LLC now owns 4,889,020 shares of the credit-card processor’s stock valued at $434,487,000 after buying an additional 1,267,080 shares during the period. Karp Capital Management Corp lifted its holdings in Visa by 3,256.5% in the first quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock valued at $86,248,000 after buying an additional 941,581 shares during the period. Finally, MUFG Securities EMEA plc lifted its holdings in Visa by 7.0% in the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after buying an additional 775,000 shares during the period. Institutional investors and hedge funds own 81.74% of the company’s stock.
Visa Inc. (NYSE V) traded down 0.23% on Tuesday, hitting $105.91. 3,020,364 shares of the stock were exchanged. The stock has a market cap of $242.16 billion, a price-to-earnings ratio of 39.39 and a beta of 0.94. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $106.64. The company has a 50-day moving average of $102.05 and a 200-day moving average of $94.72.
Visa (NYSE:V) last announced its quarterly 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 period in the previous year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts predict that Visa Inc. will post $3.42 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were paid a $0.165 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.62%. Visa’s dividend payout ratio is presently 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’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 $1,751,797.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary B. Cranston sold 10,400 shares of the business’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 transaction of $1,074,528.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Several research firms recently issued reports on V. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 target price on the stock in a report on Tuesday, June 27th. Instinet boosted their target price on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company restated a “market perform” rating and issued a $100.00 target price (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. restated a “buy” rating and issued a $115.00 target price (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $104.77.
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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