Eastern Bank Has $15.18 Million Stake in Visa Inc. (V)
Eastern Bank reduced its stake in Visa Inc. (NYSE:V) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,865 shares of the credit-card processor’s stock after selling 4,090 shares during the quarter. Eastern Bank’s holdings in Visa were worth $15,180,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of V. Mercer Capital Advisers Inc. boosted its position in shares of Visa by 2.2% in the 1st quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after purchasing an additional 25 shares in the last quarter. Mascoma Wealth Management LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $122,000. SpiderRock Advisors LLC boosted its position in shares of Visa by 107.1% in the 2nd quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after purchasing an additional 19,709 shares in the last quarter. Advantage Investment Management LLC boosted its position in shares of Visa by 27.4% in the 1st quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after purchasing an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN boosted its position in shares of Visa by 2.5% in the 1st quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock worth $137,000 after purchasing an additional 38 shares in the last quarter. 81.68% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Visa Inc. (V) opened at 103.02 on Tuesday. The stock has a market cap of $235.55 billion, a price-to-earnings ratio of 38.31 and a beta of 0.94. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $106.84. The firm has a 50-day moving average price of $103.15 and a 200-day moving average price of $95.55.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, equities analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were issued a $0.165 dividend. The ex-dividend date was Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. Visa’s payout ratio is 24.54%.
In other news, Director Mary B. Cranston sold 10,400 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were 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 accessible through this link. Also, 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 transaction of $3,004,292.52. Following the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, 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.
A number of analysts have recently commented on the company. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $108.51 price target on the stock in a research report on Tuesday. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 10th. Sanford C. Bernstein reissued an “outperform” rating and issued a $110.00 price target on shares of Visa in a research report on Thursday, July 13th. Royal Bank Of Canada reissued a “buy” rating and issued a $124.00 price target on shares of Visa in a research report on Friday. Finally, Sandler O’Neill reissued a “hold” rating on shares of Visa in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $106.53.
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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