Dillon & Associates Inc. Has $19.25 Million Position in Visa Inc (NYSE:V)
Dillon & Associates Inc. trimmed its position in Visa Inc (NYSE:V) by 1.2% in the first quarter, Holdings Channel reports. The fund owned 119,560 shares of the credit-card processor’s stock after selling 1,456 shares during the quarter. Visa accounts for 6.5% of Dillon & Associates Inc.’s portfolio, making the stock its 2nd largest holding. Dillon & Associates Inc.’s holdings in Visa were worth $19,249,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Visa in the fourth quarter valued at $3,303,463,000. M&G Investment Management Ltd. acquired a new stake in Visa in the fourth quarter valued at $235,333,000. Diamond Hill Capital Management Inc. acquired a new stake in Visa in the first quarter valued at $182,892,000. Renaissance Technologies LLC increased its holdings in Visa by 1,683.4% in the fourth quarter. Renaissance Technologies LLC now owns 893,500 shares of the credit-card processor’s stock valued at $167,889,000 after purchasing an additional 843,400 shares during the period. Finally, Investec Asset Management LTD increased its holdings in Visa by 15.9% in the fourth quarter. Investec Asset Management LTD now owns 5,875,039 shares of the credit-card processor’s stock valued at $1,103,920,000 after purchasing an additional 808,021 shares during the period. Institutional investors own 82.43% of the company’s stock.
A number of equities analysts have recently issued reports on V shares. KeyCorp cut their price objective on shares of Visa from $220.00 to $190.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. BMO Capital Markets cut their price objective on shares of Visa from $234.00 to $213.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Guggenheim cut shares of Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Macquarie started coverage on shares of Visa in a research report on Tuesday, January 21st. They set an “outperform” rating and a $250.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Five investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $203.00.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The company had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the business posted $1.31 EPS. Visa’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc will post 4.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. Visa’s payout ratio is currently 22.06%.
In related news, EVP Lynne Biggar sold 5,500 shares of Visa stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $211.18, for a total value of $1,161,490.00. Following the completion of the transaction, the executive vice president now directly owns 19,370 shares in the company, valued at approximately $4,090,556.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $161.40, for a total transaction of $1,129,800.00. Following the completion of the transaction, the chief executive officer now owns 142,090 shares of the company’s stock, valued at $22,933,326. The disclosure for this sale can be found here. Insiders sold a total of 26,500 shares of company stock valued at $4,782,030 over the last quarter. 0.19% of the stock is owned by company insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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