Tesco Pension Investment Ltd trimmed its position in Visa Inc (NYSE:V) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,041,221 shares of the credit-card processor’s stock after selling 26,992 shares during the quarter. Visa accounts for 5.1% of Tesco Pension Investment Ltd’s holdings, making the stock its 6th biggest holding. Tesco Pension Investment Ltd owned 0.05% of Visa worth $167,762,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Norges Bank bought a new stake in shares of Visa during the 4th quarter valued at $3,303,463,000. M&G Investment Management Ltd. bought a new stake in shares of Visa during the 4th quarter worth $235,333,000. Swiss National Bank lifted its position in shares of Visa by 20.4% during the 1st quarter. Swiss National Bank now owns 7,386,394 shares of the credit-card processor’s stock worth $1,190,096,000 after buying an additional 1,250,400 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Visa during the 1st quarter worth $182,892,000. Finally, Renaissance Technologies LLC lifted its position in shares of Visa by 1,683.4% during the 4th quarter. Renaissance Technologies LLC now owns 893,500 shares of the credit-card processor’s stock worth $167,889,000 after buying an additional 843,400 shares during the last quarter. 81.88% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on V. Cantor Fitzgerald upped their price objective on Visa from $200.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays dropped their price objective on Visa from $230.00 to $209.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. SunTrust Banks upped their price objective on Visa from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Wedbush upped their price objective on Visa from $170.00 to $200.00 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Finally, Guggenheim downgraded Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Five investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Visa presently has a consensus rating of “Buy” and an average target price of $202.75.
NYSE V traded up $0.24 during trading hours on Friday, hitting $190.86. 5,581,642 shares of the company’s stock were exchanged, compared to its average volume of 9,964,502. The stock has a 50-day simple moving average of $173.48 and a 200 day simple moving average of $183.49. Visa Inc has a 1-year low of $133.93 and a 1-year high of $214.17. The firm has a market cap of $370.47 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.03 and a beta of 0.92. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.
Visa (NYSE:V) last released its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, topping the consensus estimate of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The business had revenue of $5.85 billion during the quarter, compared to analysts’ expectations of $5.75 billion. During the same quarter last year, the firm posted $1.31 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that Visa Inc will post 4.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio is currently 22.06%.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $181.78, for a total value of $1,272,460.00. Following the transaction, the chief executive officer now owns 139,090 shares in the company, valued at $25,283,780.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 21,000 shares of company stock valued at $3,620,540 in the last ninety days. 0.19% of the stock is currently owned by insiders.
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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