Barings LLC Buys 27,136 Shares of Visa Inc (V)
Barings LLC raised its stake in shares of Visa Inc (NYSE:V) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,422 shares of the credit-card processor’s stock after acquiring an additional 27,136 shares during the quarter. Barings LLC’s holdings in Visa were worth $19,791,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in V. Earnest Partners LLC purchased a new stake in shares of Visa during the 4th quarter valued at $100,000. Slow Capital Inc. purchased a new stake in shares of Visa during the 4th quarter valued at $132,000. Cascade Investment Advisors Inc. purchased a new stake in shares of Visa during the 2nd quarter valued at $132,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Visa during the 1st quarter valued at $176,000. Finally, Signature Estate & Investment Advisors LLC lifted its holdings in shares of Visa by 36.8% during the 2nd quarter. Signature Estate & Investment Advisors LLC now owns 1,357 shares of the credit-card processor’s stock valued at $180,000 after purchasing an additional 365 shares during the last quarter. 80.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Vasant M. Prabhu sold 25,064 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $140.56, for a total transaction of $3,522,995.84. Following the sale, the chief financial officer now directly owns 58,232 shares in the company, valued at approximately $8,185,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James H. Hoffmeister sold 6,912 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $140.01, for a total value of $967,749.12. Following the sale, the senior vice president now owns 6,912 shares in the company, valued at $967,749.12. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
Visa (NYSE:V) last released its quarterly earnings data on Wednesday, July 25th. The credit-card processor reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.11. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.09 billion. Visa had a return on equity of 36.09% and a net margin of 47.91%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. analysts forecast that Visa Inc will post 4.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 16th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.56%. Visa’s payout ratio is currently 24.14%.
Several brokerages have recently commented on V. Robert W. Baird increased their price objective on Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a report on Friday, September 14th. Bank of America restated a “buy” rating and issued a $163.00 target price on shares of Visa in a research note on Monday, September 17th. Goldman Sachs Group lowered Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price for the company. in a research note on Monday, September 17th. Royal Bank of Canada raised their target price on Visa to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 5th. Finally, KeyCorp raised their target price on Visa from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $150.75.
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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