Weatherly Asset Management L. P. cut its holdings in Visa Inc. (NYSE:V – Get Rating) by 0.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 50,104 shares of the credit-card processor’s stock after selling 290 shares during the quarter. Visa accounts for approximately 1.5% of Weatherly Asset Management L. P.’s investment portfolio, making the stock its 18th largest position. Weatherly Asset Management L. P.’s holdings in Visa were worth $11,297,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. BCK Partners Inc. purchased a new stake in Visa in the first quarter worth about $2,717,000. Markel Corp raised its holdings in shares of Visa by 0.3% in the 1st quarter. Markel Corp now owns 961,105 shares of the credit-card processor’s stock valued at $213,144,000 after purchasing an additional 3,065 shares in the last quarter. AMI Investment Management Inc. purchased a new stake in shares of Visa in the 1st quarter worth approximately $2,323,000. Ergoteles LLC bought a new position in shares of Visa during the first quarter valued at approximately $538,000. Finally, XTX Topco Ltd purchased a new position in Visa during the first quarter valued at approximately $1,496,000. 84.92% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the completion of the transaction, the chief financial officer now owns 73,638 shares of the company’s stock, valued at $17,250,437.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $232.55, for a total transaction of $12,591,652.30. Following the completion of the sale, the insider now owns 26,674 shares in the company, valued at $6,203,038.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vasant M. Prabhu sold 13,343 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $234.26, for a total value of $3,125,731.18. Following the sale, the chief financial officer now owns 73,638 shares in the company, valued at $17,250,437.88. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock worth $27,018,374 in the last 90 days. 0.21% of the stock is owned by company insiders.
Visa Stock Up 0.5 %
Visa (NYSE:V – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. The business had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.79 EPS. Sell-side analysts expect that Visa Inc. will post 8.59 earnings per share for the current year.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio is presently 24.06%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on V shares. KeyCorp boosted their price target on Visa from $250.00 to $260.00 in a research report on Monday, April 24th. Oppenheimer increased their price target on shares of Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research report on Wednesday, April 19th. Robert W. Baird lifted their price objective on shares of Visa from $272.00 to $284.00 in a research report on Wednesday, April 26th. BMO Capital Markets raised their target price on shares of Visa from $253.00 to $263.00 in a research note on Wednesday, April 26th. Finally, Raymond James upped their price objective on shares of Visa from $281.00 to $282.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $260.08.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, click to pay; Visa Direct, a real-time payments network; Visa B2B Connect, a multilateral B2B cross-border payments network; Visa Treasury as a Service, a cross-border consumer payments business; and Visa DPS that provides a range of value added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.
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