Condor Capital Management Boosts Stake in Visa Inc (NYSE:V)

Condor Capital Management boosted its stake in Visa Inc (NYSE:V) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,223 shares of the credit-card processor’s stock after purchasing an additional 496 shares during the quarter. Condor Capital Management’s holdings in Visa were worth $3,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. iAB Financial Bank raised its stake in shares of Visa by 2.6% during the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after acquiring an additional 1,423 shares in the last quarter. Heritage Trust Co raised its stake in shares of Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 1,535 shares in the last quarter. Aviva PLC raised its stake in shares of Visa by 0.8% during the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock worth $132,432,000 after acquiring an additional 11,662 shares in the last quarter. Jacobi Capital Management LLC raised its stake in shares of Visa by 12.2% during the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock worth $892,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Fundsmith LLP raised its stake in shares of Visa by 5.3% during the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after acquiring an additional 262,930 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction dated 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 owns 76,202 shares in the company, valued at approximately $8,661,119.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was 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 approximately $77,005.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,068 shares of company stock worth $6,597,262. Company insiders own 0.14% of the company’s stock.

Shares of Visa Inc (NYSE V) traded up $2.46 during mid-day trading on Friday, hitting $116.32. 17,651,140 shares of the stock were exchanged, compared to its average volume of 8,800,000. Visa Inc has a 1 year low of $85.23 and a 1 year high of $126.88. The company has a market cap of $263,600.00, a PE ratio of 38.52, a PEG ratio of 1.54 and a beta of 1.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60.

Visa (NYSE:V) last announced its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the business posted $0.86 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts expect that Visa Inc will post 4.36 earnings per share for the current year.

Visa declared that its Board of Directors has authorized a share 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 reacquire shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Thursday, February 15th. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s payout ratio is 25.83%.

V has been the topic of several analyst reports. Barclays lifted their target price on shares of Visa from $114.00 to $123.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $118.00 target price on shares of Visa in a research note on Wednesday, October 18th. Morgan Stanley lifted their target price on shares of Visa from $114.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Citigroup lifted their target price on shares of Visa from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Two research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $133.85.

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Visa Profile

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.

Institutional Ownership by Quarter for Visa (NYSE:V)

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