Visa Inc. (V) Shares Sold by Southpoint Capital Advisors LP
Southpoint Capital Advisors LP decreased its position in Visa Inc. (NYSE:V) by 33.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the credit-card processor’s stock after selling 200,000 shares during the quarter. Visa comprises approximately 1.5% of Southpoint Capital Advisors LP’s holdings, making the stock its 19th largest position. Southpoint Capital Advisors LP’s holdings in Visa were worth $35,548,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of Visa by 11.0% in the first quarter. Signaturefd LLC now owns 6,537 shares of the credit-card processor’s stock valued at $581,000 after buying an additional 650 shares during the period. Level Four Advisory Services LLC lifted its holdings in shares of Visa by 10.6% in the first quarter. Level Four Advisory Services LLC now owns 29,761 shares of the credit-card processor’s stock valued at $2,648,000 after buying an additional 2,860 shares during the period. State Street Corp lifted its holdings in shares of Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares during the period. Two Sigma Securities LLC lifted its holdings in shares of Visa by 10.2% in the first quarter. Two Sigma Securities LLC now owns 15,028 shares of the credit-card processor’s stock valued at $1,336,000 after buying an additional 1,388 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Visa in the first quarter valued at $24,020,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
In related news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at approximately $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
Visa Inc. (V) traded down 0.12% during mid-day trading on Friday, hitting $104.43. The stock had a trading volume of 5,787,188 shares. The company has a market capitalization of $238.77 billion, a P/E ratio of 38.84 and a beta of 0.94. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $105.44. The stock’s 50-day moving average is $101.98 and its 200 day moving average is $94.58.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. Equities analysts forecast that Visa Inc. will post $3.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.
Several equities research analysts have recently commented on the company. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Vetr downgraded Visa from a “hold” rating to a “sell” rating and set a $101.08 target price for the company. in a report on Thursday. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $110.00 target price on shares of Visa in a report on Thursday, July 13th. Sandler O’Neill reaffirmed a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. upped their target price on Visa from $100.00 to $106.00 in a report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Visa presently has a consensus rating of “Buy” and an average target price of $104.77.
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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