Diamond Hill Capital Management Inc. Decreases Holdings in Visa Inc. (V)
Diamond Hill Capital Management Inc. reduced its holdings in shares of Visa Inc. (NYSE:V) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,253 shares of the credit-card processor’s stock after selling 83 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Visa were worth $211,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. State Street Corp boosted its stake 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 purchasing an additional 722,878 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after purchasing an additional 73,926 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after purchasing an additional 452,183 shares during the period. MUFG Securities EMEA plc boosted its stake in shares of Visa by 7.0% in the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after purchasing an additional 775,000 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Visa by 41.4% in the first quarter. Clearbridge Investments LLC now owns 9,145,672 shares of the credit-card processor’s stock valued at $812,776,000 after purchasing an additional 2,677,533 shares during the period. Institutional investors own 81.68% of the company’s stock.
Visa Inc. (V) opened at 105.56 on Friday. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $106.84. The firm has a market cap of $241.36 billion, a PE ratio of 39.26 and a beta of 0.94. The firm’s 50-day moving average is $103.15 and its 200 day moving average is $95.55.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ 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 during the quarter, compared to analysts’ expectations of $4.36 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities analysts forecast that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Friday, August 18th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio is 24.54%.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa 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 completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.
Several brokerages have recently weighed in on V. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Royal Bank Of Canada restated a “buy” rating and issued a $124.00 target price on shares of Visa in a research note on Friday. Sanford C. Bernstein restated an “outperform” rating and issued a $110.00 target price on shares of Visa in a research note on Thursday, July 13th. Sandler O’Neill restated a “hold” rating on shares of Visa in a research note on Wednesday, June 21st. Finally, Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research note on Tuesday, September 19th. 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 company. The company currently has an average rating of “Buy” and a consensus price target of $106.42.
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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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