Visa Inc. (V) Shares Bought by Shell Asset Management Co.
Shell Asset Management Co. boosted its stake in Visa Inc. (NYSE:V) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 542,940 shares of the credit-card processor’s stock after buying an additional 38,350 shares during the period. Visa makes up approximately 1.2% of Shell Asset Management Co.’s portfolio, making the stock its 5th largest position. Shell Asset Management Co.’s holdings in Visa were worth $48,251,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Delta Asset Management LLC TN increased its position in Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares during the period. Pacific Center for Financial Services bought a new position in Visa during the fourth quarter valued at approximately $138,000. State of Alaska Department of Revenue bought a new position in Visa during the first quarter valued at approximately $153,000. SRS Capital Advisors Inc. bought a new position in Visa during the fourth quarter valued at approximately $160,000. Finally, FNY Partners Fund LP bought a new position in Visa during the fourth quarter valued at approximately $189,000. 83.43% of the stock is owned by institutional investors.
Visa Inc. (V) opened at 94.79 on Tuesday. The firm has a 50 day moving average of $93.82 and a 200-day moving average of $87.45. Visa Inc. has a 12-month low of $73.25 and a 12-month high of $96.60.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Visa had a net margin of 28.78% and a return on equity of 29.14%. The business had revenue of $4.48 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. Equities analysts predict that Visa Inc. will post $3.37 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Friday, May 19th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.70%. Visa’s dividend payout ratio (DPR) is presently 33.00%.
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Several research analysts have commented on the stock. Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating and set a $106.00 target price on the stock. in a research report on Wednesday, June 14th. BidaskClub cut shares of Visa from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Wedbush restated an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Vetr cut shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 target price on the stock. in a research report on Monday, June 5th. Finally, Citigroup Inc. restated a “buy” rating and set a $100.00 target price on shares of Visa in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $95.73.
In related news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total transaction of $2,874,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.
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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