Fort Point Capital Partners LLC Has $273,000 Position in Visa Inc. (NYSE:V)
Fort Point Capital Partners LLC cut its stake in shares of Visa Inc. (NYSE:V) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,070 shares of the credit-card processor’s stock after selling 68 shares during the period. Fort Point Capital Partners LLC’s holdings in Visa were worth $273,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Mercer Capital Advisers Inc. boosted 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 worth $104,000 after buying an additional 25 shares in the last quarter. Advantage Investment Management LLC boosted its position 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 in the last quarter. Delta Asset Management LLC TN boosted 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 worth $137,000 after buying an additional 38 shares in the last quarter. Pacific Center for Financial Services acquired a new position in Visa during the fourth quarter worth $138,000. Finally, State of Alaska Department of Revenue acquired a new position in Visa during the first quarter worth $153,000. Institutional investors own 82.46% of the company’s stock.
Shares of Visa Inc. (V) traded up 0.60% during midday trading on Friday, hitting $100.09. The stock had a trading volume of 5,268,197 shares. The company has a market cap of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94. The stock has a 50 day moving average of $97.74 and a 200-day moving average of $92.09. Visa Inc. has a one year low of $75.17 and a one year high of $101.72.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS 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 posted $0.69 earnings per share. The company’s revenue was up 25.8% compared to the same quarter last year. Analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.
Visa declared that its board has approved 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is 24.54%.
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V has been the subject of a number of research analyst reports. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a report on Monday, June 5th. CIBC increased their price target on Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. BidaskClub cut Visa from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Credit Suisse Group set a $112.00 price target on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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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