APG Asset Management N.V. Has $116.18 Million Position in Visa Inc. (NYSE:V)
APG Asset Management N.V. lowered its position in Visa Inc. (NYSE:V) by 48.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,307,281 shares of the credit-card processor’s stock after selling 1,221,961 shares during the period. APG Asset Management N.V.’s holdings in Visa were worth $116,178,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mercer Capital Advisers Inc. raised its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. Delta Asset Management LLC TN raised its stake 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 in the last quarter. Pacific Center for Financial Services purchased a new stake in Visa during the fourth quarter valued at about $138,000. State of Alaska Department of Revenue purchased a new stake in Visa during the first quarter valued at about $153,000. Finally, SRS Capital Advisors Inc. purchased a new stake in Visa during the fourth quarter valued at about $160,000. Hedge funds and other institutional investors own 81.92% of the company’s stock.
Shares of Visa Inc. (V) opened at 96.83 on Tuesday. The firm has a 50-day moving average of $94.45 and a 200 day moving average of $88.30. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $97.37. The company has a market capitalization of $223.33 billion, a P/E ratio of 48.32 and a beta of 0.93.
Visa (NYSE:V) last issued 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 analyst estimates of $4.29 billion. During the same period in the prior year, the business earned $0.68 EPS. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, equities research analysts expect that Visa Inc. will post $3.36 earnings per share for the current year.
Visa declared that its Board of Directors has approved a stock buyback program on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
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Several analysts recently issued reports on the stock. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $100.12 price target on the stock. in a research report on Monday. Sanford C. Bernstein reiterated an “outperform” rating and set a $110.00 price target on shares of Visa in a research report on Thursday, July 13th. Jefferies Group LLC set a $96.00 price target on shares of Visa and gave the stock a “buy” rating in a research report on Saturday, March 25th. BidaskClub upgraded shares of Visa from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Finally, Sandler O’Neill restated a “hold” rating on shares of Visa in a research report on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Visa currently has a consensus rating of “Buy” and an average price target of $98.75.
In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the company’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate 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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