First Trust Advisors LP Grows Stake in Visa Inc (V)
First Trust Advisors LP grew its position in Visa Inc (NYSE:V) by 12.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 390,113 shares of the credit-card processor’s stock after buying an additional 44,119 shares during the quarter. First Trust Advisors LP’s holdings in Visa were worth $58,552,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Visa by 1.3% during the second quarter. BlackRock Inc. now owns 121,549,085 shares of the credit-card processor’s stock worth $16,099,178,000 after buying an additional 1,535,089 shares in the last quarter. FMR LLC lifted its position in Visa by 2.9% during the second quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock worth $11,320,026,000 after buying an additional 2,398,540 shares in the last quarter. Fisher Asset Management LLC lifted its position in Visa by 2.3% during the third quarter. Fisher Asset Management LLC now owns 18,087,489 shares of the credit-card processor’s stock worth $2,714,751,000 after buying an additional 401,700 shares in the last quarter. Edgewood Management LLC lifted its position in Visa by 2.5% during the second quarter. Edgewood Management LLC now owns 15,192,387 shares of the credit-card processor’s stock worth $2,012,232,000 after buying an additional 365,072 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Visa by 10.9% during the second quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock worth $1,469,941,000 after buying an additional 1,091,838 shares in the last quarter. Institutional investors and hedge funds own 80.15% of the company’s stock.
A number of equities analysts recently commented on the company. Credit Suisse Group lifted their price objective on Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, October 8th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $166.00 price objective on shares of Visa in a research report on Thursday, October 25th. Robert W. Baird lifted their price objective on Visa from $156.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, September 14th. BMO Capital Markets began coverage on Visa in a research note on Wednesday, September 26th. They set an “outperform” rating and a $187.00 target price for the company. Finally, Barclays began coverage on Visa in a research note on Wednesday, November 14th. They set an “overweight” rating and a $170.00 target price for the company. Two analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $156.09.
Shares of NYSE V opened at $131.40 on Tuesday. Visa Inc has a twelve month low of $111.02 and a twelve month high of $151.56. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $272.48 billion, a PE ratio of 28.50, a PEG ratio of 1.47 and a beta of 1.11.
Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The business had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. As a group, research analysts anticipate that Visa Inc will post 5.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 15th. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s payout ratio is presently 21.69%.
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Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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