Gabelli Funds LLC Raises Holdings in Visa Inc (V)
Gabelli Funds LLC lifted its stake in shares of Visa Inc (NYSE:V) by 6.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,800 shares of the credit-card processor’s stock after purchasing an additional 17,000 shares during the quarter. Gabelli Funds LLC’s holdings in Visa were worth $27,973,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. iAB Financial Bank raised its stake in shares of Visa by 2.6% during the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after purchasing an additional 1,423 shares during the last quarter. Heritage Trust Co grew its holdings in Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after acquiring an additional 1,535 shares during the period. Aviva PLC grew its holdings in Visa by 0.8% during the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock worth $132,432,000 after acquiring an additional 11,662 shares during the period. Jacobi Capital Management LLC grew its holdings in Visa by 12.2% during the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock worth $892,000 after acquiring an additional 1,016 shares during the period. Finally, Fundsmith LLP grew its holdings in Visa by 5.3% during the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after acquiring an additional 262,930 shares during the period. Institutional investors and hedge funds own 81.50% of the company’s stock.
In other news, SVP James H. Hoffmeister sold 2,146 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares in the company, valued at $77,005.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Insiders sold 58,068 shares of company stock worth $6,597,262 over the last 90 days. Company insiders own 0.14% of the company’s stock.
A number of research analysts recently weighed in on V shares. Cantor Fitzgerald reaffirmed a “buy” rating and set a $120.00 price objective on shares of Visa in a report on Wednesday, October 25th. Susquehanna Bancshares upped their price objective on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Jefferies Group upped their price objective on Visa from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, Wells Fargo & Co raised Visa from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $120.94.
Shares of Visa Inc (NYSE V) opened at $118.98 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90. Visa Inc has a twelve month low of $80.51 and a twelve month high of $120.48. The firm has a market capitalization of $269,630.00, a price-to-earnings ratio of 42.49, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.
Visa (NYSE:V) last issued its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The business’s revenue was up 13.9% on a year-over-year basis. equities research analysts forecast that Visa Inc will post 4.07 EPS for the current fiscal year.
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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