Telos Capital Management Inc. Has $9.49 Million Stake in Visa Inc. (NYSE:V)
Telos Capital Management Inc. lowered its stake in shares of Visa Inc. (NYSE:V) by 1.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 44,821 shares of the credit-card processor’s stock after selling 537 shares during the period. Visa makes up approximately 1.4% of Telos Capital Management Inc.’s portfolio, making the stock its 17th biggest holding. Telos Capital Management Inc.’s holdings in Visa were worth $9,490,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC boosted its stake in Visa by 129.1% during the 4th quarter. FNY Investment Advisers LLC now owns 126 shares of the credit-card processor’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. Kinloch Capital LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $27,000. Horan Securities Inc. boosted its stake in shares of Visa by 432.0% in the 4th quarter. Horan Securities Inc. now owns 133 shares of the credit-card processor’s stock worth $29,000 after buying an additional 108 shares during the last quarter. Cowa LLC purchased a new position in shares of Visa in the 4th quarter worth approximately $29,000. Finally, New Capital Management LP purchased a new position in shares of Visa in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 80.50% of the company’s stock.
A number of brokerages have recently weighed in on V. Robert W. Baird restated a “buy” rating and issued a $256.00 target price on shares of Visa in a research note on Sunday, April 11th. Barclays boosted their target price on Visa from $250.00 to $275.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their target price on Visa from $220.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, January 14th. BMO Capital Markets boosted their target price on Visa from $230.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, April 29th. Finally, Jefferies Financial Group upped their price objective on Visa from $260.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $246.32.
Visa (NYSE:V) last released its quarterly earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.12. The firm had revenue of $5.73 billion for the quarter, compared to analysts’ expectations of $5.54 billion. Visa had a net margin of 49.74% and a return on equity of 37.22%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.39 earnings per share. Sell-side analysts predict that Visa Inc. will post 5.45 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be issued a $0.32 dividend. The ex-dividend date is Thursday, May 13th. This represents a $1.28 annualized dividend and a dividend yield of 0.55%. Visa’s payout ratio is currently 25.40%.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the stock in a transaction on Friday, April 30th. The stock was sold at an average price of $235.32, for a total value of $2,117,880.00. Following the transaction, the chief executive officer now owns 160,112 shares of the company’s stock, valued at $37,677,555.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Ryan Mcinerney sold 11,193 shares of the stock in a transaction on Monday, February 8th. The shares were sold at an average price of $210.00, for a total value of $2,350,530.00. Following the completion of the transaction, the president now directly owns 11,193 shares in the company, valued at approximately $2,350,530. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,843 shares of company stock worth $29,838,958. Insiders own 0.19% of the company’s stock.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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