Visa Inc. (V) Shares Bought by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC increased its stake in Visa Inc. (NYSE:V) by 17.6% during the first quarter, Holdings Channel reports. The firm owned 26,912 shares of the credit-card processor’s stock after buying an additional 4,034 shares during the period. Visa accounts for approximately 0.9% of Flagship Harbor Advisors LLC’s holdings, making the stock its 24th largest position. Flagship Harbor Advisors LLC’s holdings in Visa were worth $2,395,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in V. Integrated Investment Consultants LLC boosted its stake in shares of Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares in the last quarter. 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 valued at $104,000 after buying an additional 25 shares in the last quarter. Smithfield Trust Co. boosted its stake in shares of Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares in the last quarter. Nicolet Bankshares Inc. boosted its stake in shares of Visa by 0.3% in the first quarter. Nicolet Bankshares Inc. now owns 9,312 shares of the credit-card processor’s stock valued at $828,000 after buying an additional 27 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Visa by 0.5% in the first quarter. Sequoia Financial Advisors LLC now owns 5,994 shares of the credit-card processor’s stock valued at $533,000 after buying an additional 27 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.
Visa Inc. (V) traded up 0.60% during midday trading on Friday, reaching $100.09. 5,268,197 shares of the company’s stock traded hands. The firm has a market cap of $228.85 billion, a PE ratio of 37.22 and a beta of 0.94. The firm’s 50-day moving average is $97.74 and its 200 day moving average is $92.09. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $101.72.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the 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 for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Visa’s quarterly 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 fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a dividend of $0.165 per share. 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 payout ratio is currently 24.54%.
Visa declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 20th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit-card processor to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
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Several brokerages recently weighed in on V. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective on the stock in a research note on Tuesday, June 27th. Instinet boosted their price objective on shares of Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reissued a “market perform” rating and issued a $100.00 price objective (up previously from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reissued a “buy” rating and issued a $115.00 price objective (up previously from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research cut shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average 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 shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following 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 Securities & Exchange Commission, 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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