Triangle Securities Wealth Management lessened its stake in shares of Visa Inc (NYSE:V) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,033 shares of the credit-card processor’s stock after selling 460 shares during the quarter. Visa comprises about 1.5% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 16th biggest holding. Triangle Securities Wealth Management’s holdings in Visa were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Visa by 2.1% during the second 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. BlackRock Inc. raised its holdings in shares of Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after acquiring an additional 1,440,034 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Visa by 1.0% in the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after acquiring an additional 209,764 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after acquiring an additional 1,624,700 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Visa by 2.3% in the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after acquiring an additional 355,320 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc (NYSE:V) traded down $0.62 during trading hours on Wednesday, hitting $122.58. The company had a trading volume of 7,678,511 shares, compared to its average volume of 8,274,919. Visa Inc has a twelve month low of $87.85 and a twelve month high of $126.88. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $276,040.00, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 1.64 and a beta of 1.00.
Visa (NYSE:V) last released its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. sell-side analysts anticipate that Visa Inc will post 4.36 earnings per share for the current fiscal year.
Visa announced that its board has approved a share repurchase program on Thursday, February 1st that allows the company to buyback $7.50 billion in shares. This buyback authorization allows the credit-card processor to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 6th. Stockholders of record on Friday, February 16th were paid a $0.21 dividend. The ex-dividend date was Thursday, February 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Visa’s previous quarterly dividend of $0.20. Visa’s payout ratio is 32.94%.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 76,202 shares in the company, valued at approximately $8,661,119.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lynne Biggar sold 1,712 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
V has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reiterated a “buy” rating on shares of Visa in a research report on Thursday, February 1st. BMO Capital Markets reissued a “positive” rating and issued a $148.00 price target on shares of Visa in a report on Monday, February 5th. Barclays reaffirmed a “buy” rating and set a $145.00 target price on shares of Visa in a research note on Friday, January 5th. Mizuho reissued a “buy” rating and issued a $136.00 price objective on shares of Visa in a research note on Friday, February 2nd. Finally, Piper Jaffray Companies increased their price target on Visa from $158.00 to $164.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $134.14.
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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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