Donald L. Hagan LLC purchased a new position in shares of Visa Inc. (NYSE:V – Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,500 shares of the credit-card processor’s stock, valued at approximately $338,000.
Other large investors have also made changes to their positions in the company. BCK Partners Inc. bought a new position in shares of Visa in the first quarter worth about $2,717,000. Markel Corp lifted its stake in 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 during the last quarter. AMI Investment Management Inc. acquired a new stake in Visa in the first quarter valued at approximately $2,323,000. Ergoteles LLC bought a new stake in shares of Visa during the first quarter worth $538,000. Finally, XTX Topco Ltd acquired a new position in shares of Visa during the first quarter worth $1,496,000. Institutional investors and hedge funds own 84.92% of the company’s stock.
Insider Activity
In other Visa news, insider Tullier Kelly Mahon sold 54,146 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the transaction, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lloyd Carney sold 1,288 shares of Visa stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $232.97, for a total transaction of $300,065.36. Following the transaction, the director now owns 2,542 shares of the company’s stock, valued at $592,209.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tullier Kelly Mahon sold 54,146 shares of the stock in a transaction on Monday, May 1st. The shares were sold at an average price of $232.55, for a total value of $12,591,652.30. Following the completion of the sale, the insider now directly owns 26,674 shares of the company’s stock, valued at $6,203,038.70. The disclosure for this sale can be found here. Insiders sold a total of 116,277 shares of company stock worth $27,018,374 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.
Visa Stock Up 1.3 %
Visa (NYSE:V – Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.12. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.79 earnings per share. As a group, sell-side analysts predict that Visa Inc. will post 8.58 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were paid a $0.45 dividend. The ex-dividend date was Thursday, May 11th. This represents a $1.80 dividend on an annualized basis and a yield of 0.76%. Visa’s dividend payout ratio (DPR) is presently 24.06%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the company. StockNews.com started coverage on Visa in a research report on Thursday, May 18th. They set a “buy” rating on the stock. KeyCorp upped their price objective on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Citigroup lifted their target price on shares of Visa from $270.00 to $273.00 in a research report on Wednesday, April 26th. 22nd Century Group restated a “maintains” rating on shares of Visa in a research report on Wednesday, April 26th. Finally, Oppenheimer lifted their price target on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has an average 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.
Featured Stories
- Five stocks we like better than Visa
- MarketBeat Week in Review – 6/26 – 6/30
- Tesla: Can Downgrades Make Sense After A 170% Rally?
- Buffett’s Berkshire Increases Stake In Occidental Petroleum (OXY)
- Rally Gains Momentum On Soft PCE Data
- Bank of America, JPMorgan, Goldman Sachs Set For Dividend Growth?
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.
