Visa Inc (V) is Edmp Inc.’s Largest Position
Edmp Inc. decreased its position in Visa Inc (NYSE:V) by 5.7% in the 4th quarter, Holdings Channel reports. The firm owned 61,640 shares of the credit-card processor’s stock after selling 3,720 shares during the period. Visa makes up approximately 6.3% of Edmp Inc.’s investment portfolio, making the stock its largest position. Edmp Inc.’s holdings in Visa were worth $7,402,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch Investments LLC bought a new position in Visa in the 3rd quarter worth about $101,000. Cordasco Financial Network bought a new position in Visa in the 3rd quarter worth about $105,000. Motco grew its position in Visa by 25.1% in the 2nd quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the last quarter. Massey Quick Simon & CO. LLC bought a new position in Visa in the 3rd quarter worth about $110,000. Finally, BDO Wealth Advisors LLC bought a new position in Visa in the 2nd quarter worth about $115,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.
V has been the subject of several recent analyst reports. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $115.24 price objective for the company in a report on Monday, December 4th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $141.00 price objective on shares of Visa in a report on Friday, December 22nd. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Susquehanna Bancshares increased their price objective on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Finally, Barclays reiterated a “buy” rating and issued a $145.00 price objective on shares of Visa in a report on Friday, January 5th. Two investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $134.14.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. research analysts forecast that Visa Inc will post 4.36 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is 32.94%.
Visa declared that its board has authorized a stock buyback plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the transaction, the director now owns 57,368 shares in the company, valued at approximately $6,526,183.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Lynne Biggar sold 1,712 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,634 shares of company stock valued at $6,562,157. 0.14% of the stock is owned by insiders.
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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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