Boston Common Asset Management LLC Has $7.71 Million Position in Visa Inc. (V)
Boston Common Asset Management LLC reduced its position in shares of Visa Inc. (NYSE:V) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,698 shares of the credit-card processor’s stock after selling 1,024 shares during the period. Visa makes up about 1.0% of Boston Common Asset Management LLC’s holdings, making the stock its 25th largest position. Boston Common Asset Management LLC’s holdings in Visa were worth $7,705,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Sowell Financial Services LLC purchased a new position in Visa during the fourth quarter worth $436,000. WFG Advisors LP boosted its position in Visa by 0.3% in the fourth quarter. WFG Advisors LP now owns 25,733 shares of the credit-card processor’s stock worth $625,000 after buying an additional 71 shares during the last quarter. Norges Bank purchased a new position in Visa during the fourth quarter worth $1,335,803,000. Israel Discount Bank of New York GFN purchased a new position in Visa during the fourth quarter worth $356,000. Finally, Dodge & Cox purchased a new position in Visa during the fourth quarter worth $591,000. 82.29% of the stock is owned by institutional investors.
Visa Inc. (V) traded up 0.86% on Wednesday, hitting $103.35. 2,387,860 shares of the stock traded hands. The stock has a market cap of $236.30 billion, a P/E ratio of 38.43 and a beta of 0.94. The stock has a 50-day moving average price of $98.13 and a 200 day moving average price of $92.48. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $103.38.
Visa (NYSE:V) last announced its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The company’s revenue was up 25.8% on a year-over-year basis. On average, equities analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.
Visa announced that its Board of Directors has approved a stock repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
A number of equities analysts have weighed in on V shares. Royal Bank Of Canada upped their price objective on shares of Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Cowen and Company reissued an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Visa in a research report on Sunday, April 23rd. Jefferies Group LLC reissued a “buy” rating and issued a $104.00 price objective on shares of Visa in a research report on Sunday, April 23rd. Instinet reissued a “buy” rating and issued a $105.00 price objective (up from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Finally, Barclays PLC reissued an “overweight” rating and issued a $106.00 price objective (up from $103.00) on shares of Visa in a research report on Sunday, April 23rd. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Visa presently has a consensus rating of “Buy” and a consensus price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the completion of the transaction, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
Visa Company Profile
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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