Visa Inc. (V) Shares Bought by RB Capital Management LLC
RB Capital Management LLC increased its holdings in shares of Visa Inc. (NYSE:V) by 12.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,643 shares of the credit-card processor’s stock after purchasing an additional 1,298 shares during the quarter. Visa accounts for about 0.9% of RB Capital Management LLC’s investment portfolio, making the stock its 27th largest holding. RB Capital Management LLC’s holdings in Visa were worth $1,092,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Carret Asset Management LLC increased its position in Visa by 4.5% during the 1st quarter. Carret Asset Management LLC now owns 27,037 shares of the credit-card processor’s stock worth $2,403,000 after purchasing an additional 1,153 shares in the last quarter. DE Burlo Group Inc. increased its position in Visa by 65.9% during the 1st quarter. DE Burlo Group Inc. now owns 145,000 shares of the credit-card processor’s stock worth $12,886,000 after purchasing an additional 57,600 shares in the last quarter. Achmea Investment Management B.V. acquired a new stake in Visa during the 1st quarter worth approximately $7,938,000. Aberdeen Asset Management PLC UK increased its position in Visa by 5.6% during the 1st quarter. Aberdeen Asset Management PLC UK now owns 5,470,559 shares of the credit-card processor’s stock worth $486,168,000 after purchasing an additional 290,480 shares in the last quarter. Finally, National Asset Management Inc. increased its position in Visa by 5.4% during the 1st quarter. National Asset Management Inc. now owns 25,136 shares of the credit-card processor’s stock worth $2,237,000 after purchasing an additional 1,298 shares in the last quarter. 81.68% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Mary B. Cranston sold 10,400 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $103.32, for a total transaction of $1,074,528.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the company’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 directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
Visa Inc. (NYSE V) traded up 0.27% during midday trading on Thursday, hitting $105.25. The stock had a trading volume of 2,289,514 shares. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.84. The firm has a market cap of $240.65 billion, a P/E ratio of 39.14 and a beta of 0.94. The stock has a 50-day moving average of $103.15 and a 200-day moving average of $95.55.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. Analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.63%. Visa’s dividend payout ratio is currently 24.54%.
V has been the subject of a number of analyst reports. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 price target on shares of Visa in a report on Thursday, July 13th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a report on Tuesday. Sandler O’Neill restated a “hold” rating on shares of Visa in a report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. upped their price target on Visa from $100.00 to $106.00 in a report on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. Visa currently has a consensus rating of “Buy” and an average target price of $105.52.
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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