Visa Inc. (V) Position Held by Investec Asset Management PTY Ltd
Investec Asset Management PTY Ltd held its stake in shares of Visa Inc. (NYSE:V) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,344 shares of the credit-card processor’s stock at the end of the first quarter. Investec Asset Management PTY Ltd’s holdings in Visa were worth $919,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Mercer Capital Advisers Inc. boosted its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Advantage Investment Management LLC boosted its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares during the period. Delta Asset Management LLC TN boosted its stake in shares of 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 worth $137,000 after buying an additional 38 shares during the period. Pacific Center for Financial Services bought a new stake in shares of Visa during the fourth quarter worth approximately $138,000. Finally, State of Alaska Department of Revenue bought a new stake in shares of Visa during the first quarter worth approximately $153,000. 82.46% of the stock is owned by hedge funds and other institutional investors.
Visa Inc. (NYSE V) traded down 0.40% during midday trading on Wednesday, reaching $100.87. The company had a trading volume of 1,411,088 shares. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $101.30. The firm has a market capitalization of $230.63 billion, a price-to-earnings ratio of 37.51 and a beta of 0.94. The stock’s 50 day moving average is $96.32 and its 200 day moving average is $91.20.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was up 25.8% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current year.
Visa declared that its board has authorized a stock buyback program on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a yield of 0.65%. Visa’s dividend payout ratio is currently 24.54%.
A number of analysts have recently commented on V shares. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a research note on Monday, June 5th. CIBC upped their price target on Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the company a “buy” rating in a research note on Saturday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price 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 stock was 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 of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by 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.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).
Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.