Advisory Services Network LLC raised its stake in shares of Visa Inc. (NYSE:V) by 37.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,168 shares of the credit-card processor’s stock after buying an additional 4,402 shares during the period. Advisory Services Network LLC’s holdings in Visa were worth $1,337,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. First Republic Investment Management Inc. raised its stake in shares of Visa by 5.8% in the first quarter. First Republic Investment Management Inc. now owns 762,294 shares of the credit-card processor’s stock valued at $58,299,000 after buying an additional 41,585 shares during the last quarter. Lebenthal Asset Management LLC purchased a new stake in shares of Visa during the first quarter worth about $668,000. Origin Asset Management LLP raised its stake in shares of Visa by 21.4% in the first quarter. Origin Asset Management LLP now owns 110,462 shares of the credit-card processor’s stock worth $8,448,000 after buying an additional 19,486 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Visa during the first quarter worth about $284,000. Finally, SevenBridge Financial Group LLC purchased a new stake in shares of Visa during the first quarter worth about $1,116,000. 79.52% of the stock is currently owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded down 1.31% during trading on Monday, hitting $79.08. The stock had a trading volume of 11,793,084 shares. The firm’s 50-day moving average is $81.48 and its 200-day moving average is $80.04. Visa Inc. has a one year low of $66.12 and a one year high of $83.96. The firm has a market cap of $185.05 billion, a P/E ratio of 31.24 and a beta of 1.00.
Visa (NYSE:V) last announced its earnings results on Monday, October 24th. The credit-card processor reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.05. Visa had a return on equity of 24.31% and a net margin of 39.72%. The business had revenue of $4.26 billion for the quarter. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Visa Inc. will post $3.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Friday, November 18th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.82%. This is an increase from Visa’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, November 16th. Visa’s dividend payout ratio (DPR) is 26.72%.
A number of brokerages have recently issued reports on V. Vetr lowered Visa from a “buy” rating to a “hold” rating and set a $83.12 price target on the stock. in a research note on Monday, August 8th. Robert W. Baird lifted their price target on Visa from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 6th. Stifel Nicolaus lowered their price target on Visa from $94.00 to $93.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Jefferies Group reaffirmed a “buy” rating on shares of Visa in a research note on Tuesday, November 15th. Finally, Pacific Crest set a $92.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Seven equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $90.84.
In related news, insider Charles W. Scharf sold 772,912 shares of Visa stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $82.65, for a total value of $63,881,176.80. Following the completion of the transaction, the insider now directly owns 852,880 shares in the company, valued at $70,490,532. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Ryan Mcinerney sold 18,500 shares of Visa stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $82.92, for a total value of $1,534,020.00. Following the completion of the transaction, the president now owns 12,548 shares of the company’s stock, valued at $1,040,480.16. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.
Visa Company Profile
Visa Inc is a payments technology company. The Company and its subsidiaries, including Visa U.SA Inc (Visa U.SA), Visa International Service Association (Visa International), Visa Worldwide Pte. Limited, Visa Canada Corporation, Inovant LLC and CyberSource Corporation (CyberSource), operate a processing network, VisaNet, which facilitates authorization, clearing and settlement of payment transactions around the world.