Lateef Investment Management L.P. lowered its stake in shares of Visa Inc (NYSE:V) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 615,069 shares of the credit-card processor’s stock after selling 14,906 shares during the quarter. Visa makes up about 5.8% of Lateef Investment Management L.P.’s holdings, making the stock its biggest position. Lateef Investment Management L.P.’s holdings in Visa were worth $64,730,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Welch Investments LLC acquired a new stake in Visa during the third quarter worth approximately $101,000. Cordasco Financial Network acquired a new stake in Visa during the third quarter worth approximately $105,000. Motco raised its holdings in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares in the last quarter. Massey Quick Simon & CO. LLC acquired a new stake in Visa during the third quarter worth approximately $110,000. Finally, BDO Wealth Advisors LLC acquired a new stake in Visa during the second quarter worth approximately $115,000. 81.59% of the stock is currently owned by institutional investors.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction 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 transaction, the executive vice president now directly owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction 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 transaction, the senior vice president now owns 687 shares in the company, valued at $77,005.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,780 shares of company stock worth $6,802,702. 0.14% of the stock is currently owned by insiders.
Visa Inc (NYSE:V) opened at $122.01 on Wednesday. Visa Inc has a 1 year low of $87.17 and a 1 year high of $126.88. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $276,500.00, a price-to-earnings ratio of 40.40, a P/E/G ratio of 1.61 and a beta of 1.03.
Visa (NYSE:V) last posted its quarterly earnings data 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. Visa had a net margin of 38.12% and a return on equity of 32.97%. The firm had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the firm posted $0.86 EPS. Visa’s quarterly revenue was up 9.0% on a year-over-year basis. equities analysts anticipate that Visa Inc will post 4.37 earnings per share for the current year.
Visa declared that its board has authorized a share repurchase plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization permits the credit-card processor to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is 27.81%.
V has been the topic of a number of research analyst reports. Susquehanna Bancshares raised their price objective on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Cantor Fitzgerald reissued a “buy” rating and set a $120.00 price objective on shares of Visa in a report on Wednesday, October 25th. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $135.00 target price (up from $127.00) on shares of Visa in a report on Tuesday, January 9th. Finally, Jefferies Group lifted their target price on shares of Visa from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, October 30th. Two analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Visa has a consensus rating of “Buy” and an average target price of $133.85.
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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