Tdam USA Inc. Trims Position in Visa Inc (V)

Tdam USA Inc. lessened its stake in Visa Inc (NYSE:V) by 22.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 209,301 shares of the credit-card processor’s stock after selling 60,343 shares during the period. Visa comprises about 1.3% of Tdam USA Inc.’s holdings, making the stock its 16th biggest position. Tdam USA Inc.’s holdings in Visa were worth $22,027,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Visa by 2.1% during the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares during the period. BlackRock Inc. lifted its stake in Visa by 1.3% during the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. Jennison Associates LLC lifted its stake in Visa by 1.0% during the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after purchasing an additional 209,764 shares during the period. Bank of New York Mellon Corp lifted its stake in Visa by 9.3% during the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after purchasing an additional 1,624,700 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Visa by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after purchasing an additional 355,320 shares during the period. Institutional investors and hedge funds own 81.57% of the company’s stock.

Shares of Visa Inc (V) opened at $116.27 on Tuesday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $263,490.00, a P/E ratio of 38.50, a P/E/G ratio of 1.69 and a beta of 1.03. Visa Inc has a fifty-two week low of $84.88 and a fifty-two week high of $126.88.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. Visa’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. research analysts expect that Visa Inc will post 4.28 EPS for the current year.

Visa announced that its board has approved a share repurchase program on Thursday, February 1st that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the credit-card processor to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. This is a positive change from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio (DPR) is currently 25.83%.

In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $112.09, for a total transaction of $240,545.14. Following the completion of the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last three months, insiders sold 58,068 shares of company stock valued at $6,597,262. 0.14% of the stock is currently owned by company insiders.

A number of brokerages have commented on V. Keefe, Bruyette & Woods restated a “buy” rating on shares of Visa in a research note on Thursday, February 1st. KeyCorp raised their price target on shares of Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald raised their price target on shares of Visa to $141.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup restated a “buy” rating and set a $145.00 price target (up previously from $136.00) on shares of Visa in a research note on Monday, January 29th. Finally, Morgan Stanley raised their price target on shares of Visa from $126.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday, January 25th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $133.85.

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Visa 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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Institutional Ownership by Quarter for Visa (NYSE:V)

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