Capital Counsel LLC NY raised its holdings in shares of Visa (NYSE:V) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 813,986 shares of the credit-card processor’s stock after buying an additional 1,055 shares during the quarter. Visa comprises approximately 7.6% of Capital Counsel LLC NY’s holdings, making the stock its 4th largest holding. Capital Counsel LLC NY’s holdings in Visa were worth $92,811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Temasek Holdings Private Ltd lifted its stake in shares of Visa by 116.3% in the 3rd quarter. Temasek Holdings Private Ltd now owns 3,292,775 shares of the credit-card processor’s stock valued at $346,532,000 after purchasing an additional 1,770,488 shares during the period. YCG LLC acquired a new position in shares of Visa in the 3rd quarter valued at $438,000. Davidson Kempner Capital Management LP acquired a new position in shares of Visa in the 3rd quarter valued at $13,155,000. TCI Wealth Advisors Inc. lifted its stake in shares of Visa by 14.3% in the 4th quarter. TCI Wealth Advisors Inc. now owns 3,390 shares of the credit-card processor’s stock valued at $387,000 after purchasing an additional 423 shares during the period. Finally, Granite Investment Partners LLC lifted its stake in shares of Visa by 7.7% in the 3rd quarter. Granite Investment Partners LLC now owns 159,290 shares of the credit-card processor’s stock valued at $16,764,000 after purchasing an additional 11,358 shares during the period. Institutional investors and hedge funds own 82.07% of the company’s stock.
In other Visa news, President Ryan Mcinerney sold 38,500 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $131.33, for a total value of $5,056,205.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP James H. Hoffmeister sold 8,423 shares of the company’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $127.67, for a total transaction of $1,075,364.41. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
Shares of V opened at $129.93 on Friday. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.58. Visa has a 12-month low of $130.72 and a 12-month high of $131.39. The stock has a market capitalization of $267.96 billion, a P/E ratio of 37.34, a PEG ratio of 1.71 and a beta of 0.98.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, April 25th. The credit-card processor reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.10. Visa had a net margin of 48.18% and a return on equity of 33.90%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. Visa’s quarterly revenue was up 13.3% on a year-over-year basis. equities research analysts anticipate that Visa will post 4.46 EPS for the current year.
Visa declared that its board has approved a share buyback plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically a sign 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, June 5th. Investors of record on Friday, May 18th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, May 17th. Visa’s dividend payout ratio is currently 24.14%.
A number of research firms have weighed in on V. DZ Bank restated a “hold” rating on shares of Visa in a research report on Wednesday, January 24th. Morgan Stanley upped their price objective on shares of Visa from $126.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Oppenheimer upped their price objective on shares of Visa from $125.00 to $143.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, January 25th. Finally, Citigroup restated a “buy” rating and set a $145.00 price objective (up from $136.00) on shares of Visa in a research report on Monday, January 29th. Three research 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 stock. The company has a consensus rating of “Buy” and an average target price of $137.42.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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