British Airways Pensions Investment Management Ltd increased its position in Visa Inc. (NYSE:V) by 100.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 658,038 shares of the credit-card processor’s stock after buying an additional 329,750 shares during the period. Visa makes up about 1.8% of British Airways Pensions Investment Management Ltd’s investment portfolio, making the stock its 6th largest position. British Airways Pensions Investment Management Ltd’s holdings in Visa were worth $58,449,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of V. Integrated Investment Consultants LLC boosted its stake in Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. Mercer Capital Advisers Inc. boosted its position in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. boosted its position in Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares in the last quarter. Nicolet Bankshares Inc. boosted its position in Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock valued at $828,000 after buying an additional 27 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock valued at $533,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 82.02% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded down 0.42% on Friday, reaching $99.15. The company had a trading volume of 6,558,846 shares. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.18. The firm has a market capitalization of $226.70 billion, a PE ratio of 36.87 and a beta of 0.93. The firm’s 50 day moving average is $95.97 and its 200 day moving average is $90.79.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa declared that its board has approved a stock repurchase program on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.67%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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Several equities analysts have weighed in on V shares. Piper Jaffray Companies restated a “neutral” rating and set a $45.00 price target on shares of Visa in a report on Friday, April 14th. Royal Bank Of Canada raised their price objective on Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Visa in a research note on Sunday, April 23rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 price objective on shares of Visa in a research note on Sunday, April 23rd. Finally, Instinet reaffirmed a “buy” rating and issued a $105.00 price objective (up from $103.00) on shares of Visa in a research note on Sunday, April 23rd. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. Visa currently has an average rating of “Buy” and an average target price of $104.35.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.
Visa Company Profile
Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.
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