Nepsis Capital Management Inc. cut its holdings in shares of Visa (NYSE:V) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,125 shares of the credit-card processor’s stock after selling 1,505 shares during the period. Visa comprises about 4.1% of Nepsis Capital Management Inc.’s portfolio, making the stock its 7th biggest position. Nepsis Capital Management Inc.’s holdings in Visa were worth $7,996,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Heritage Trust Co lifted its holdings in shares of Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 1,535 shares during the period. Jacobi Capital Management LLC lifted its holdings in Visa by 12.2% in the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after acquiring an additional 1,016 shares during the period. Fundsmith LLP lifted its holdings in Visa by 5.3% in the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after acquiring an additional 262,930 shares during the period. Beach Point Capital Management LP acquired a new stake in Visa in the third quarter valued at $5,736,000. Finally, Calamos Wealth Management LLC lifted its holdings in Visa by 186.5% in the third quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock valued at $7,211,000 after acquiring an additional 44,609 shares during the period. Institutional investors own 81.52% of the company’s stock.
A number of analysts recently commented on the company. Susquehanna Bancshares lifted their price objective on Visa from $126.00 to $148.00 in a research report on Thursday, December 28th. Wells Fargo reiterated an “outperform” rating and set a $135.00 price objective (up previously from $127.00) on shares of Visa in a research report on Tuesday, January 9th. Stephens reissued a “buy” rating and issued a $135.00 price target on shares of Visa in a research note on Wednesday, January 10th. Cowen reissued a “buy” rating and issued a $129.00 price target on shares of Visa in a research note on Friday, January 12th. Finally, Citigroup reaffirmed a “buy” rating and issued a $136.00 price objective (up from $124.00) on shares of Visa in a research note on Friday, January 12th. Three research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. Visa currently has an average rating of “Buy” and a consensus price target of $135.19.
V opened at $117.70 on Friday. Visa has a 52-week low of $88.13 and a 52-week high of $126.88. The stock has a market cap of $246,872.95, a PE ratio of 33.82, a P/E/G ratio of 1.58 and a beta of 0.99. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60.
Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities research analysts forecast that Visa will post 4.38 earnings per share for the current year.
Visa declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other news, EVP Lynne Biggar sold 1,712 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.
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Visa Company Profile
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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