Schwab Charles Investment Management Inc. Acquires 219,125 Shares of Visa Inc. (V)
Schwab Charles Investment Management Inc. raised its position in Visa Inc. (NYSE:V) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 5,660,675 shares of the credit-card processor’s stock after buying an additional 219,125 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Visa were worth $503,065,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the company. Accident Compensation Corp increased its stake in Visa by 6.0% in the first quarter. Accident Compensation Corp now owns 35,219 shares of the credit-card processor’s stock worth $3,130,000 after buying an additional 2,000 shares during the period. Columbia Asset Management increased its stake in Visa by 3.3% in the first quarter. Columbia Asset Management now owns 46,030 shares of the credit-card processor’s stock worth $4,090,000 after buying an additional 1,477 shares during the period. Investec Asset Management LTD increased its stake in Visa by 1.4% in the first quarter. Investec Asset Management LTD now owns 3,497,909 shares of the credit-card processor’s stock worth $310,859,000 after buying an additional 49,479 shares during the period. Good Life Advisors LLC increased its stake in Visa by 16.9% in the first quarter. Good Life Advisors LLC now owns 3,803 shares of the credit-card processor’s stock worth $340,000 after buying an additional 549 shares during the period. Finally, SNS Financial Group LLC increased its stake in Visa by 14.1% in the first quarter. SNS Financial Group LLC now owns 5,373 shares of the credit-card processor’s stock worth $478,000 after buying an additional 663 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
Visa Inc. (NYSE V) traded up 0.50% during midday trading on Friday, hitting $99.99. 1,372,807 shares of the stock were exchanged. The company has a market capitalization of $228.62 billion, a P/E ratio of 37.18 and a beta of 0.94. The company’s 50 day moving average is $97.57 and its 200 day moving average is $91.96. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $101.72.
Visa (NYSE:V) last issued 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 business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.
Visa announced that its board has authorized a share repurchase plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.
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A number of equities research analysts recently weighed in on the stock. BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Tuesday, August 1st. Citigroup Inc. reissued a “buy” rating and set a $115.00 price target (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price target (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 price target on shares of Visa and gave the stock a “buy” rating in a research note on Saturday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Visa has an average rating of “Buy” and an average price target of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, 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 is accessible through the SEC website. 0.14% of the stock is 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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