Granite Investment Partners LLC cut its holdings in Visa (NYSE:V) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,944 shares of the credit-card processor’s stock after selling 6,346 shares during the period. Visa comprises approximately 1.1% of Granite Investment Partners LLC’s portfolio, making the stock its 17th biggest holding. Granite Investment Partners LLC’s holdings in Visa were worth $17,439,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Roble Belko & Company Inc grew its holdings in Visa by 220.8% during the fourth quarter. Roble Belko & Company Inc now owns 879 shares of the credit-card processor’s stock valued at $100,000 after purchasing an additional 605 shares during the period. Welch Investments LLC bought a new position in Visa during the third quarter valued at $101,000. Cordasco Financial Network bought a new position in Visa during the third quarter valued at $105,000. Massey Quick Simon & CO. LLC bought a new position in Visa during the third quarter valued at $110,000. Finally, MPS Loria Financial Planners LLC bought a new position in Visa during the second quarter valued at $123,000. 81.52% of the stock is owned by institutional investors.
NYSE V opened at $117.70 on Friday. Visa has a twelve month low of $88.13 and a twelve month high of $126.88. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The stock has a market cap of $249,716.50, a price-to-earnings ratio of 33.82, a PEG ratio of 1.59 and a beta of 0.99.
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 the Zacks’ 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 business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. analysts predict that Visa will post 4.38 EPS for the current fiscal year.
Visa announced that its board has initiated a stock buyback program on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
V has been the subject of several research reports. Susquehanna Bancshares increased their price objective on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Cowen reissued a “buy” rating and set a $129.00 price objective on shares of Visa in a report on Friday, January 12th. Citigroup reissued a “buy” rating and set a $136.00 price objective (up from $124.00) on shares of Visa in a report on Friday, January 12th. Stephens reissued a “buy” rating and set a $135.00 price objective on shares of Visa in a report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $141.00 price objective on shares of Visa in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $134.97.
In other news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by 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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