Visa (V) Stake Lessened by Next Century Growth Investors LLC

Next Century Growth Investors LLC lessened its stake in Visa (NYSE:V) by 33.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,151 shares of the credit-card processor’s stock after selling 13,627 shares during the quarter. Next Century Growth Investors LLC’s holdings in Visa were worth $3,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Timber Creek Capital Management LLC raised its position in Visa by 0.6% in the 4th quarter. Timber Creek Capital Management LLC now owns 65,712 shares of the credit-card processor’s stock worth $7,492,000 after buying an additional 405 shares during the last quarter. TCI Wealth Advisors Inc. raised its position in Visa by 14.3% in the 4th quarter. TCI Wealth Advisors Inc. now owns 3,390 shares of the credit-card processor’s stock worth $387,000 after buying an additional 423 shares during the last quarter. Eastern Bank raised its position in Visa by 0.3% in the 4th quarter. Eastern Bank now owns 161,936 shares of the credit-card processor’s stock worth $18,464,000 after buying an additional 435 shares during the last quarter. Investment Centers of America Inc. raised its position in Visa by 2.1% in the 3rd quarter. Investment Centers of America Inc. now owns 22,061 shares of the credit-card processor’s stock worth $2,319,000 after buying an additional 457 shares during the last quarter. Finally, Waldron LP raised its position in Visa by 7.2% in the 4th quarter. Waldron LP now owns 6,897 shares of the credit-card processor’s stock worth $786,000 after buying an additional 462 shares during the last quarter. 82.07% of the stock is owned by hedge funds and other institutional investors.

In other Visa news, SVP James H. Hoffmeister sold 8,423 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $127.67, for a total value of $1,075,364.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Ryan Mcinerney sold 38,500 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $131.33, for a total value of $5,056,205.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Shares of Visa opened at $129.93 on Friday, MarketBeat.com reports. The company has a market cap of $267.96 billion, a P/E ratio of 37.34, a P/E/G ratio of 1.71 and a beta of 0.98. 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.

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. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 33.90% and a net margin of 48.18%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. sell-side analysts expect that Visa will post 4.46 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Shareholders of record on Friday, May 18th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.84 annualized dividend and a yield of 0.65%. Visa’s payout ratio is 24.14%.

A number of equities analysts have weighed in on V shares. DZ Bank reissued a “hold” rating on shares of Visa in a research report on Wednesday, January 24th. Morgan Stanley boosted their target price on Visa from $126.00 to $137.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Oppenheimer boosted their target price on 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 raised Visa from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research report on Thursday, January 25th. Finally, Citigroup restated a “buy” rating and set a $145.00 price target (up from $136.00) on shares of Visa in a research note on Monday, January 29th. Three investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $137.42.

About Visa

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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