Linden Thomas Advisory Services LLC raised its position in Visa Inc. (NYSE:V – Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,702 shares of the credit-card processor’s stock after purchasing an additional 330 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Visa were worth $835,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its stake in shares of Visa by 0.8% in the first quarter. Asset Management One Co. Ltd. now owns 870,897 shares of the credit-card processor’s stock valued at $196,352,000 after buying an additional 6,541 shares in the last quarter. First Personal Financial Services grew its stake in shares of Visa by 1.9% in the first quarter. First Personal Financial Services now owns 7,853 shares of the credit-card processor’s stock valued at $1,771,000 after buying an additional 150 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Visa by 1.8% in the first quarter. Mackenzie Financial Corp now owns 2,232,789 shares of the credit-card processor’s stock valued at $503,405,000 after buying an additional 39,197 shares in the last quarter. Osborne Partners Capital Management LLC grew its stake in shares of Visa by 0.5% in the first quarter. Osborne Partners Capital Management LLC now owns 48,052 shares of the credit-card processor’s stock valued at $10,834,000 after buying an additional 257 shares in the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of Visa by 76.3% in the first quarter. Verdence Capital Advisors LLC now owns 28,546 shares of the credit-card processor’s stock valued at $6,436,000 after buying an additional 12,352 shares in the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the sale, the chairman now owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Visa news, Chairman Alfred F. Kelly, Jr. sold 7,500 shares of Visa stock in a transaction on Monday, May 1st. The stock was sold at an average price of $232.87, for a total transaction of $1,746,525.00. Following the sale, the chairman now owns 154,854 shares of the company’s stock, valued at approximately $36,060,850.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lloyd Carney sold 1,288 shares of Visa stock in a transaction on Friday, April 28th. The shares were sold at an average price of $232.97, for a total value of $300,065.36. Following the sale, the director now directly owns 2,542 shares in the company, valued at approximately $592,209.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,602 shares of company stock valued at $33,336,374. Insiders own 0.21% of the company’s stock.
Visa Trading Up 0.7 %
Visa (NYSE:V – Get Free Report) last announced its quarterly earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 earnings per share (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 the consensus estimate of $7.79 billion. Visa had a return on equity of 50.21% and a net margin of 50.95%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.79 EPS. Equities research analysts expect that Visa Inc. will post 8.59 EPS for the current year.
Visa Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, May 12th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Thursday, May 11th. Visa’s dividend payout ratio (DPR) is 24.06%.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on V. Barclays increased their target price on Visa from $270.00 to $272.00 in a research note on Monday, May 1st. KeyCorp raised their price objective on Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Oppenheimer raised their price objective on Visa from $237.00 to $248.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Royal Bank of Canada raised their price objective on Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. Finally, Raymond James raised their price objective on Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $262.52.
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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