Visa Inc. (NYSE:V) is Mogy Joel R Investment Counsel Inc.’s 8th Largest Position
Mogy Joel R Investment Counsel Inc. raised its stake in shares of Visa Inc. (NYSE:V) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,296 shares of the credit-card processor’s stock after buying an additional 685 shares during the period. Visa comprises approximately 3.0% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Visa were worth $17,534,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. HCR Wealth Advisors acquired a new position in shares of Visa during the fourth quarter valued at $2,991,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Visa by 29.9% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 274,921 shares of the credit-card processor’s stock valued at $21,485,000 after buying an additional 63,346 shares during the period. Congress Asset Management Co. MA purchased a new stake in Visa during the fourth quarter valued at approximately $57,989,000. Princeton Portfolio Strategies Group LLC raised its stake in Visa by 177.1% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 42,376 shares of the credit-card processor’s stock valued at $3,306,000 after buying an additional 27,086 shares during the period. Finally, Capital International Inc. CA raised its stake in Visa by 32.1% in the fourth quarter. Capital International Inc. CA now owns 157,800 shares of the credit-card processor’s stock valued at $12,312,000 after buying an additional 38,300 shares during the period. Hedge funds and other institutional investors own 82.02% of the company’s stock.
Visa Inc. (NYSE:V) opened at 100.89 on Friday. The stock has a market cap of $230.68 billion, a price-to-earnings ratio of 37.52 and a beta of 0.94. The company has a 50-day moving average price of $96.32 and a 200 day moving average price of $91.20. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $101.34.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc. will post $3.43 EPS for the current year.
Visa declared that its Board of Directors has approved a share repurchase program on Thursday, April 20th that permits the company to repurchase $5.00 billion in outstanding 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 board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders 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 dividend on an annualized basis and a yield of 0.65%. Visa’s dividend payout ratio is currently 24.54%.
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Several equities research analysts have commented on V shares. Piper Jaffray Companies reiterated a “neutral” rating and set a $45.00 price objective on shares of Visa in a research note on Friday, April 14th. Royal Bank Of Canada boosted their target price on Visa from $97.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Cowen and Company restated an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Visa in a report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $104.00 target price on shares of Visa in a report on Sunday, April 23rd. Finally, Instinet restated a “buy” rating and set a $105.00 target price (up from $103.00) on shares of Visa in a report on Sunday, April 23rd. Four investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now owns 17,360 shares in the company, valued at approximately $1,751,797.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.
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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