Visa Inc. (V) Shares Bought by Terra Nova Asset Management LLC
Terra Nova Asset Management LLC increased its stake in Visa Inc. (NYSE:V) by 19.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,996 shares of the credit-card processor’s stock after buying an additional 1,659 shares during the period. Visa accounts for about 1.8% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 22nd largest position. Terra Nova Asset Management LLC’s holdings in Visa were worth $888,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Mercer Capital Advisers Inc. increased its position 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 during the period. 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 acquired a new position in Visa during the fourth quarter valued at approximately $138,000. State of Alaska Department of Revenue acquired a new position in Visa during the first quarter valued at approximately $153,000. Finally, SRS Capital Advisors Inc. acquired a new position in Visa during the fourth quarter valued at approximately $160,000. Institutional investors own 82.02% of the company’s stock.
Visa Inc. (NYSE V) opened at 99.57 on Friday. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $101.18. The stock has a market cap of $227.66 billion, a PE ratio of 37.03 and a beta of 0.93. The firm has a 50 day moving average of $95.88 and a 200-day moving average of $90.67.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business’s revenue was up 25.8% on a year-over-year basis. During the same quarter last year, the business earned $0.69 EPS. Equities analysts anticipate that Visa Inc. will post $3.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. Visa’s dividend payout ratio (DPR) is presently 24.54%.
Visa announced that its board has initiated a stock buyback program on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
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Several research analysts recently commented on V shares. CIBC raised their price objective on shares of Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Monday, May 29th. Deutsche Bank AG raised their price objective on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective for the company. in a report on Monday, June 5th. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Visa in a report on Sunday, April 23rd. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Visa presently has an average rating of “Buy” and a consensus price target of $104.35.
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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