Manning & Napier Advisors LLC lessened its position in Visa Inc (NYSE:V) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,153,943 shares of the credit-card processor’s stock after selling 358,937 shares during the quarter. Visa makes up about 1.9% of Manning & Napier Advisors LLC’s portfolio, making the stock its 12th biggest position. Manning & Napier Advisors LLC owned about 0.10% of Visa worth $226,680,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in V. Chesley Taft & Associates LLC increased its position in shares of Visa by 1.8% during the 2nd quarter. Chesley Taft & Associates LLC now owns 149,679 shares of the credit-card processor’s stock worth $14,037,000 after purchasing an additional 2,685 shares during the last quarter. Randolph Co Inc acquired a new position in shares of Visa during the 2nd quarter worth approximately $16,765,000. Trust Co. of Oklahoma increased its position in shares of Visa by 0.4% during the 2nd quarter. Trust Co. of Oklahoma now owns 46,985 shares of the credit-card processor’s stock worth $4,406,000 after purchasing an additional 172 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in shares of Visa during the 2nd quarter worth approximately $122,000. Finally, Texan Capital Management increased its position in shares of Visa by 2.1% during the 2nd quarter. Texan Capital Management now owns 30,408 shares of the credit-card processor’s stock worth $2,852,000 after purchasing an additional 627 shares during the last quarter. 81.28% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the sale, the senior vice president now owns 687 shares in the company, valued at approximately $77,005.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,068 shares of company stock valued at $6,597,262. Insiders own 0.14% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald lifted their target price on Visa to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Vetr downgraded Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a research note on Monday, January 8th. Buckingham Research boosted their price target on Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Cowen restated a “buy” rating and issued a $129.00 price target on shares of Visa in a research note on Friday, January 12th. Two investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $133.85.
Visa Inc (NYSE V) opened at $118.47 on Tuesday. Visa Inc has a fifty-two week low of $86.00 and a fifty-two week high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $268,480.00, a PE ratio of 39.23, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03.
Visa (NYSE:V) last issued its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts forecast that Visa Inc will post 4.36 earnings per share for the current year.
Visa announced that its board has approved a share repurchase 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 often a sign that the company’s management believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio is presently 25.83%.
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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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