Visa Inc (V) Stake Lifted by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in shares of Visa Inc (NYSE:V) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,755 shares of the credit-card processor’s stock after acquiring an additional 997 shares during the period. Sterling Capital Management LLC’s holdings in Visa were worth $5,001,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in V. BlackRock Inc. increased its position in Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 121,549,085 shares of the credit-card processor’s stock worth $16,099,178,000 after purchasing an additional 1,535,089 shares in the last quarter. FMR LLC increased its position in Visa by 2.9% during the 2nd quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock worth $11,320,026,000 after purchasing an additional 2,398,540 shares in the last quarter. Fisher Asset Management LLC increased its position in Visa by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock worth $2,342,483,000 after purchasing an additional 639,522 shares in the last quarter. Edgewood Management LLC increased its position in Visa by 2.5% during the 2nd quarter. Edgewood Management LLC now owns 15,192,387 shares of the credit-card processor’s stock worth $2,012,232,000 after purchasing an additional 365,072 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Visa by 10.9% during the 2nd quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock worth $1,469,941,000 after purchasing an additional 1,091,838 shares in the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.

A number of analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Visa from $187.00 to $196.00 and gave the stock an “outperform” rating in a research report on Thursday, October 25th. JPMorgan Chase & Co. reissued a “buy” rating and set a $166.00 target price on shares of Visa in a research report on Thursday, October 25th. Credit Suisse Group increased their target price on shares of Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. Wells Fargo & Co increased their target price on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, October 1st. Finally, Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Tuesday, September 25th. Two research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $155.47.

Shares of NYSE:V opened at $140.79 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.69. Visa Inc has a 52-week low of $106.60 and a 52-week high of $151.56. The company has a market capitalization of $284.35 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.52 and a beta of 1.11.

Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.01. Visa had a net margin of 49.98% and a return on equity of 38.00%. The company had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.44 billion. On average, analysts anticipate that Visa Inc will post 5.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be given a $0.25 dividend. This is an increase from Visa’s previous quarterly dividend of $0.21. The ex-dividend date is Thursday, November 15th. This represents a $1.00 annualized dividend and a yield of 0.71%. Visa’s dividend payout ratio (DPR) is 18.22%.

In other news, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the transaction, the executive vice president now directly owns 296,925 shares in the company, valued at approximately $41,355,714. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by company insiders.

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About Visa

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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