Provident Trust Co. lowered its stake in Visa Inc (NYSE:V) by 1.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,588,510 shares of the credit-card processor’s stock after selling 34,203 shares during the period. Visa accounts for approximately 12.1% of Provident Trust Co.’s holdings, making the stock its 2nd biggest holding. Provident Trust Co. owned 0.12% of Visa worth $272,415,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in V. Janus Henderson Group PLC grew its position in Visa by 159.7% in the 2nd quarter. Janus Henderson Group PLC now owns 9,702,770 shares of the credit-card processor’s stock worth $909,979,000 after purchasing an additional 5,966,991 shares during the last quarter. Vanguard Group Inc. grew its position in Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after purchasing an additional 2,628,148 shares during the last quarter. Capital Research Global Investors grew its position in Visa by 20.3% in the 2nd quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after purchasing an additional 1,919,732 shares during the last quarter. Bank of New York Mellon Corp grew its position in Visa by 9.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after purchasing an additional 1,624,700 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in Visa by 56.1% in the 3rd quarter. Prudential Financial Inc. now owns 4,023,202 shares of the credit-card processor’s stock worth $423,401,000 after purchasing an additional 1,445,091 shares during the last quarter. 81.57% of the stock is owned by institutional investors.
Shares of Visa Inc (V) traded up $2.46 during trading on Friday, reaching $116.32. 17,651,140 shares of the company’s stock were exchanged, compared to its average volume of 8,800,000. 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 Inc has a 12-month low of $85.23 and a 12-month high of $126.88. The company has a market cap of $263,600.00, a P/E ratio of 38.52, a PEG ratio of 1.54 and a beta of 1.03.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue was up 9.0% on a year-over-year basis. analysts forecast that Visa Inc will post 4.36 earnings per share for the current year.
The firm also recently disclosed 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%. This is an increase from Visa’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is presently 25.83%.
Visa announced that its board has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in shares. This repurchase authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Cantor Fitzgerald increased their target price on shares of Visa to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 target price for the company. in a research note on Monday, January 8th. Buckingham Research increased their target price on shares of Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 26th. Finally, Cowen restated a “buy” rating and issued a $129.00 price target on shares of Visa in a research report on Friday, January 12th. Two research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $133.85.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of the 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 sale, the senior vice president now owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock valued at $6,597,262 over the last ninety days. 0.14% of the stock is owned by insiders.
Visa Company 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.
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