DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Visa Inc. (NYSE:V – Free Report) by 15.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,607 shares of the credit-card processor’s stock after buying an additional 3,009 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Visa were worth $5,097,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Keudell Morrison Wealth Management increased its position in Visa by 0.4% in the first quarter. Keudell Morrison Wealth Management now owns 11,761 shares of the credit-card processor’s stock worth $2,652,000 after purchasing an additional 43 shares during the last quarter. Successful Portfolios LLC boosted its stake in Visa by 3.6% during the first quarter. Successful Portfolios LLC now owns 1,232 shares of the credit-card processor’s stock worth $278,000 after buying an additional 43 shares during the period. Auxano Advisors LLC boosted its stake in Visa by 0.3% during the fourth quarter. Auxano Advisors LLC now owns 14,206 shares of the credit-card processor’s stock worth $2,951,000 after buying an additional 45 shares during the period. Wedge Capital Management L L P NC boosted its stake in Visa by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 2,914 shares of the credit-card processor’s stock worth $657,000 after buying an additional 45 shares during the period. Finally, Domani Wealth LLC boosted its stake in Visa by 2.7% during the fourth quarter. Domani Wealth LLC now owns 1,729 shares of the credit-card processor’s stock worth $359,000 after buying an additional 46 shares during the period. Hedge funds and other institutional investors own 84.92% of the company’s stock.
Insiders Place Their Bets
In other Visa news, CFO Vasant M. Prabhu sold 40,000 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total value of $9,254,400.00. Following the completion of the transaction, the chief financial officer now directly owns 73,638 shares in the company, valued at $17,036,887.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Rajat Taneja sold 22,700 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $240.21, for a total transaction of $5,452,767.00. Following the transaction, the insider now owns 232,112 shares in the company, valued at $55,755,623.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vasant M. Prabhu sold 40,000 shares of the company’s stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $231.36, for a total transaction of $9,254,400.00. Following the transaction, the chief financial officer now owns 73,638 shares in the company, valued at approximately $17,036,887.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 165,727 shares of company stock worth $38,891,141. 0.22% of the stock is owned by corporate insiders.
Visa Stock Down 0.1 %
Visa (NYSE:V – Get Free Report) last announced its earnings results on Tuesday, April 25th. The credit-card processor reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $7.99 billion during the quarter, compared to the consensus estimate of $7.79 billion. Visa had a net margin of 50.95% and a return on equity of 50.21%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.79 earnings per share. As a group, research analysts anticipate that Visa Inc. will post 8.59 EPS for the current fiscal year.
Visa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Shareholders of record on Friday, May 12th were issued 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 0.74%. Visa’s dividend payout ratio is presently 24.06%.
Analyst Ratings Changes
Several research analysts have commented on V shares. Royal Bank of Canada lifted their price objective on shares of Visa from $262.00 to $265.00 in a research note on Wednesday, April 26th. Oppenheimer lifted their price objective on shares of Visa from $237.00 to $248.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 19th. Raymond James boosted their target price on shares of Visa from $281.00 to $282.00 in a research note on Wednesday, April 26th. KeyCorp boosted their target price on shares of Visa from $250.00 to $260.00 in a research note on Monday, April 24th. Finally, Barclays boosted their target price on shares of Visa from $270.00 to $272.00 in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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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