Deltec Asset Management LLC increased its stake in Visa Inc. (NYSE:V) by 53.7% during the first quarter, Holdings Channel reports. The firm owned 170,746 shares of the credit-card processor’s stock after buying an additional 59,621 shares during the period. Visa accounts for approximately 3.1% of Deltec Asset Management LLC’s portfolio, making the stock its 3rd largest position. Deltec Asset Management LLC’s holdings in Visa were worth $15,174,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of V. State Street Corp boosted its position in Visa by 2.6% in the fourth quarter. State Street Corp now owns 82,748,981 shares of the credit-card processor’s stock valued at $6,456,063,000 after buying an additional 2,111,820 shares during the period. Norges Bank bought a new position in Visa during the fourth quarter valued at $1,335,803,000. Fisher Asset Management LLC boosted its position in Visa by 1.4% in the first quarter. Fisher Asset Management LLC now owns 15,163,968 shares of the credit-card processor’s stock valued at $1,347,622,000 after buying an additional 206,225 shares during the period. Loomis Sayles & Co. L P boosted its position in Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock valued at $1,092,500,000 after buying an additional 531,327 shares during the period. Finally, Edgewood Management LLC boosted its position in Visa by 1.0% in the fourth quarter. Edgewood Management LLC now owns 11,880,171 shares of the credit-card processor’s stock valued at $926,891,000 after buying an additional 119,292 shares during the period. Institutional investors own 83.43% of the company’s stock.
Visa Inc. (NYSE:V) opened at 95.22 on Tuesday. The firm’s 50-day moving average price is $93.91 and its 200 day moving average price is $87.59. The stock has a market cap of $219.62 billion, a price-to-earnings ratio of 47.51 and a beta of 0.94. Visa Inc. has a 12 month low of $73.25 and a 12 month high of $96.60.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.07. Visa had a return on equity of 29.14% and a net margin of 28.78%. The business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was up 23.5% on a year-over-year basis. On average, analysts anticipate that Visa Inc. will post $3.37 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Friday, May 19th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.69%. Visa’s payout ratio is presently 33.00%.
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Several research analysts recently weighed in on V shares. Vetr cut shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a research report on Monday, June 5th. CIBC increased their price target on shares of Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. BidaskClub cut shares of Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $104.00 price target on shares of Visa in a research report on Saturday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Visa has an average rating of “Buy” and a consensus target price of $95.73.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of the business’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total transaction of $2,874,044.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.
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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