Southeast Asset Advisors Inc. maintained its stake in shares of Visa Inc. (NYSE:V) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,800 shares of the credit-card processor’s stock at the close of the 1st quarter. Southeast Asset Advisors Inc.’s holdings in Visa were worth $249,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. State Street Corp increased 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 buying an additional 722,878 shares during the period. Bank of New York Mellon Corp increased 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 buying an additional 73,926 shares during the period. Fisher Asset Management LLC increased its stake in shares of Visa by 1.4% in the first quarter. Fisher Asset Management LLC now owns 15,163,968 shares of the credit-card processor’s stock valued at $1,347,622,000 after buying an additional 206,225 shares during the period. MUFG Securities EMEA plc increased 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 buying an additional 775,000 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Visa by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 8,381,445 shares of the credit-card processor’s stock valued at $744,859,000 after buying an additional 164,971 shares during the period. 81.74% of the stock is owned by institutional investors.
Shares of Visa Inc. (NYSE:V) traded up 1.29% during mid-day trading on Monday, hitting $105.78. The company’s stock had a trading volume of 2,556,699 shares. The company has a market cap of $241.86 billion, a price-to-earnings ratio of 39.34 and a beta of 0.94. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $105.82. The stock’s 50 day moving average price is $102.05 and its 200 day moving average price is $94.67.
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, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts forecast that Visa Inc. will post $3.42 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.63%. The ex-dividend date was Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.
In other Visa news, Director Mary B. Cranston sold 10,400 shares of Visa stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $103.32, for a total value of $1,074,528.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.
V has been the subject of several recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $100.00 target price on shares of Visa in a research note on Thursday, May 25th. UBS AG reaffirmed an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. Deutsche Bank AG raised their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, July 10th. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 target price for the company. in a research note on Monday, June 5th. Finally, Nomura raised their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. 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 issued a strong buy rating to the company’s stock. Visa currently has an average rating of “Buy” and a consensus price target of $104.77.
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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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