Marsico Capital Management LLC Sells 247,417 Shares of Visa Inc. (V)
Marsico Capital Management LLC lowered its stake in shares of Visa Inc. (NYSE:V) by 14.6% during the first quarter, Holdings Channel reports. The firm owned 1,443,269 shares of the credit-card processor’s stock after selling 247,417 shares during the period. Visa comprises 5.6% of Marsico Capital Management LLC’s holdings, making the stock its 4th largest position. Marsico Capital Management LLC’s holdings in Visa were worth $128,263,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Mercer Capital Advisers Inc. boosted 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 worth $104,000 after buying an additional 25 shares during the last quarter. Advantage Investment Management LLC boosted its stake in 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 last quarter. Delta Asset Management LLC TN boosted 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 worth $137,000 after buying an additional 38 shares during the last quarter. Pacific Center for Financial Services acquired a new stake in Visa during the fourth quarter worth $138,000. Finally, State of Alaska Department of Revenue acquired a new stake in Visa during the first quarter worth $153,000. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Visa Inc. (NYSE V) traded down 0.62% during midday trading on Thursday, reaching $100.34. The company had a trading volume of 1,718,374 shares. The firm’s 50 day moving average is $97.43 and its 200 day moving average is $91.91. The stock has a market capitalization of $229.42 billion, a PE ratio of 37.31 and a beta of 0.94. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $101.72.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period last year, the company posted $0.69 EPS. The company’s revenue was up 25.8% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
Visa declared that its Board of Directors has authorized a share buyback program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.65%. Visa’s dividend payout ratio (DPR) is 24.54%.
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A number of analysts have recently weighed in on V shares. Oppenheimer Holdings, Inc. raised their price objective on Visa from $100.00 to $106.00 in a research report on Tuesday, July 18th. Citigroup Inc. reissued a “buy” rating and issued a $100.00 price objective on shares of Visa in a research report on Thursday, May 25th. Instinet reissued a “buy” rating and issued a $105.00 price objective (up previously from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $104.00 price objective on shares of Visa in a research report on Sunday, April 23rd. Finally, Vetr raised Visa from a “hold” rating to a “buy” rating and set a $95.32 price objective for the company in a research report on Thursday, April 27th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Visa presently has a consensus rating of “Buy” and an average target price of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company 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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