Violich Capital Management Inc. boosted its position in shares of Visa Inc (NYSE:V) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,527 shares of the credit-card processor’s stock after purchasing an additional 4,865 shares during the period. Visa comprises 5.4% of Violich Capital Management Inc.’s holdings, making the stock its largest position. Violich Capital Management Inc.’s holdings in Visa were worth $19,735,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in V. Beach Investment Management LLC. grew its holdings in shares of Visa by 455.7% in the 2nd quarter. Beach Investment Management LLC. now owns 144,089 shares of the credit-card processor’s stock valued at $13,513,000 after acquiring an additional 118,159 shares in the last quarter. Denver Investment Advisors LLC grew its holdings in shares of Visa by 0.8% in the 2nd quarter. Denver Investment Advisors LLC now owns 17,081 shares of the credit-card processor’s stock valued at $1,602,000 after acquiring an additional 130 shares in the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Visa by 15.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 2,294,359 shares of the credit-card processor’s stock valued at $215,165,000 after acquiring an additional 308,733 shares in the last quarter. Riverpark Capital Management LLC grew its holdings in shares of Visa by 15.2% in the 2nd quarter. Riverpark Capital Management LLC now owns 306,935 shares of the credit-card processor’s stock valued at $28,784,000 after acquiring an additional 40,609 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its holdings in shares of Visa by 83.8% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 5,007 shares of the credit-card processor’s stock valued at $470,000 after acquiring an additional 2,283 shares in the last quarter. Hedge funds and other institutional investors own 81.59% of the company’s stock.
In other news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction that occurred on 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 directly owns 76,202 shares in the company, valued at $8,661,119.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,780 shares of company stock valued at $6,802,702. 0.14% of the stock is owned by company insiders.
A number of research firms recently commented on V. Susquehanna Bancshares lifted their price target on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Jefferies Group lifted their price target on Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $115.24 price target for the company in a report on Monday, December 4th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $123.00 price target for the company in a report on Thursday, November 2nd. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $141.00 price target on shares of Visa in a report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $134.20.
Shares of Visa Inc (NYSE:V) opened at $122.93 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. Visa Inc has a 1 year low of $87.30 and a 1 year high of $126.88. The firm has a market cap of $253,301.83, a P/E ratio of 40.84, a PEG ratio of 1.63 and a beta of 1.01.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. analysts predict that Visa Inc will post 4.36 EPS for the current year.
Visa declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 1st that permits the company to buyback $7.50 billion in shares. This buyback authorization permits the credit-card processor to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.68%. This is an increase from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s payout ratio is presently 27.91%.
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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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