Braun Stacey Associates Inc. acquired a new stake in shares of Visa Inc. (NYSE:V) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 15,150 shares of the credit-card processor’s stock, valued at approximately $1,346,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. ZWJ Investment Counsel Inc. increased its position in Visa by 11.8% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 3,262 shares of the credit-card processor’s stock valued at $255,000 after buying an additional 345 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new position in Visa during the fourth quarter valued at approximately $507,000. Rainier Group Investment Advisory LLC purchased a new position in Visa during the fourth quarter valued at approximately $371,000. Bessemer Group Inc. increased its position in Visa by 1,811.3% in the fourth quarter. Bessemer Group Inc. now owns 2,041,280 shares of the credit-card processor’s stock valued at $159,260,000 after buying an additional 1,934,482 shares during the last quarter. Finally, National Planning Corp increased its position in Visa by 35.7% in the fourth quarter. National Planning Corp now owns 20,147 shares of the credit-card processor’s stock valued at $1,658,000 after buying an additional 5,300 shares during the last quarter. Hedge funds and other institutional investors own 83.43% of the company’s stock.
Shares of Visa Inc. (NYSE V) opened at 95.58 on Friday. Visa Inc. has a 52 week low of $73.25 and a 52 week high of $96.60. The stock has a 50 day moving average price of $93.91 and a 200 day moving average price of $87.59. The firm has a market capitalization of $220.45 billion, a P/E ratio of 47.69 and a beta of 0.94.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the consensus estimate of $0.79 by $0.07. Visa had a net margin of 28.78% and a return on equity of 29.14%. The firm had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the prior year, the firm posted $0.68 earnings per share. The company’s quarterly revenue was up 23.5% compared to the same quarter last year. Analysts forecast that Visa Inc. will post $3.37 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Friday, May 19th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Wednesday, May 17th. Visa’s payout ratio is currently 33.00%.
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Several equities analysts have recently commented on V shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $100.00 target price on shares of Visa in a research report on Thursday, May 25th. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $93.85 target price on the stock in a research report on Monday, March 20th. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research report on Wednesday, March 1st. Credit Suisse Group reaffirmed a “hold” rating on shares of Visa in a research report on Wednesday, March 29th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $104.00 target price on shares of Visa in a research report on Saturday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Visa has a consensus rating of “Buy” and an average target price of $95.73.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.
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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