Xact Kapitalforvaltning AB raised its holdings in Visa Inc. (NYSE:V) by 8.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 344,009 shares of the credit-card processor’s stock after buying an additional 26,788 shares during the period. Visa comprises about 1.0% of Xact Kapitalforvaltning AB’s holdings, making the stock its 15th largest position. Xact Kapitalforvaltning AB’s holdings in Visa were worth $32,261,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. lifted its stake in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock valued at $104,000 after buying an additional 25 shares in the last quarter. Advantage Investment Management LLC lifted its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares in the last quarter. Delta Asset Management LLC TN lifted its stake in shares of Visa by 2.5% in the first quarter. Delta Asset Management LLC TN now owns 1,541 shares of the credit-card processor’s stock valued at $137,000 after buying an additional 38 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Visa in the first quarter valued at $153,000. Finally, Tarbox Group Inc. lifted its stake in shares of Visa by 259.5% in the first quarter. Tarbox Group Inc. now owns 2,139 shares of the credit-card processor’s stock valued at $190,000 after buying an additional 1,544 shares in the last quarter. 81.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Visa Inc. (V) traded down 0.74% during trading on Friday, reaching $105.30. 12,622,921 shares of the company traded hands. The company has a market capitalization of $240.76 billion, a P/E ratio of 39.16 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 company’s 50-day moving average price is $102.82 and its 200-day moving average price is $95.21.
Visa (NYSE:V) last released its 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. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.36 billion. Visa had a net margin of 36.53% and a return on equity of 30.95%. The firm’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS. Equities research analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Investors 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 24.54%.
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A number of research firms have weighed in on V. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective on the stock in a research note on Tuesday, June 27th. Instinet raised their price objective on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $100.00 price objective (up from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 price objective (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $105.35.
In related news, Director Mary B. Cranston sold 10,400 shares of the stock in a transaction that occurred 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred 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 sale, 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. Corporate insiders own 0.14% of the company’s stock.
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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