NS Partners Ltd Raises Stake in Visa Inc. (V)
NS Partners Ltd boosted its stake in Visa Inc. (NYSE:V) by 0.1% during the first quarter, Holdings Channel reports. The institutional investor owned 100,587 shares of the credit-card processor’s stock after buying an additional 121 shares during the period. NS Partners Ltd’s holdings in Visa were worth $8,939,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in 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 last quarter. Norges Bank bought a new position in Visa during the fourth quarter valued at approximately $1,335,803,000. Fisher Asset Management LLC raised its position in 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 last quarter. MUFG Securities EMEA plc raised its position in 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 last quarter. Finally, UBS Asset Management Americas Inc. raised its position in 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 last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.60% during trading on Friday, reaching $100.09. The company’s stock had a trading volume of 5,268,197 shares. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $101.72. The company has a 50 day moving average price of $97.74 and a 200 day moving average price of $92.09. The firm has a market capitalization of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 25.8% compared to the same quarter last year. On average, equities research analysts expect that Visa Inc. will post $3.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
Visa announced that its Board of Directors has approved a stock buyback program on Thursday, April 20th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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V has been the topic of several recent analyst reports. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Zacks Investment Research lowered Visa from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 target price (up from $100.00) on shares of Visa in a research report on Monday, July 24th. Bank of America Corporation upped their target price on Visa from $103.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $107.00 target price (up from $105.00) on shares of Visa in a research report on Saturday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total value of $3,004,292.52. Following the sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.
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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