Harris Associates L P grew its position in Visa Inc. (NYSE:V) by 0.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,854,510 shares of the credit-card processor’s stock after acquiring an additional 3,311 shares during the quarter. Visa comprises 1.3% of Harris Associates L P’s holdings, making the stock its 24th largest position. Harris Associates L P owned 0.34% of Visa worth $698,030,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Swiss National Bank lifted its position in Visa by 23.2% during the first quarter. Swiss National Bank now owns 7,360,428 shares of the credit-card processor’s stock worth $654,121,000 after buying an additional 1,388,200 shares in the last quarter. Karp Capital Management Corp increased its stake in Visa by 3,256.5% during the first quarter. Karp Capital Management Corp now owns 970,495 shares of the credit-card processor’s stock worth $86,248,000 after acquiring an additional 941,581 shares during the last quarter. MUFG Securities EMEA plc increased its stake in Visa by 7.0% during the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock worth $1,045,864,000 after acquiring an additional 775,000 shares during the last quarter. C WorldWide Group Holding A S increased its stake in Visa by 10.2% during the first quarter. C WorldWide Group Holding A S now owns 8,379,106 shares of the credit-card processor’s stock worth $744,651,000 after acquiring an additional 773,707 shares during the last quarter. Finally, Morningstar Investment Services LLC acquired a new stake in Visa during the first quarter worth $55,972,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
Shares of Visa Inc. (NYSE V) opened at 105.30 on Friday. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $106.84. The company has a market cap of $240.76 billion, a PE ratio of 39.16 and a beta of 0.94. The stock’s 50 day moving average price is $102.82 and its 200-day moving average price is $95.21.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the business earned $0.69 earnings per share. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. On average, equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.63%. Visa’s dividend payout ratio is currently 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.
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Several equities research analysts have issued reports on the company. Vetr raised Visa from a “sell” rating to a “hold” rating and set a $105.08 target price for the company in a research note on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Visa in a research note on Tuesday, September 12th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Robert W. Baird reaffirmed a “buy” rating on shares of Visa in a research note on Thursday, August 24th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Visa in a research note on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $105.35.
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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