Oakbrook Investments LLC Acquires 71,951 Shares of Visa Inc. (V)
Oakbrook Investments LLC raised its position in shares of Visa Inc. (NYSE:V) by 24.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 363,249 shares of the credit-card processor’s stock after buying an additional 71,951 shares during the period. Visa accounts for 2.3% of Oakbrook Investments LLC’s portfolio, making the stock its 6th largest position. Oakbrook Investments LLC’s holdings in Visa were worth $34,065,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of V. Mercer Capital Advisers Inc. boosted its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC purchased a new stake in Visa during the second quarter worth $122,000. SpiderRock Advisors LLC boosted its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares in the last quarter. Advantage Investment Management LLC boosted its stake in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock worth $130,000 after buying an additional 314 shares in the last quarter. Finally, Delta Asset Management LLC TN boosted its stake in 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 worth $137,000 after buying an additional 38 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
Visa Inc. (NYSE:V) traded up 0.60% during trading on Friday, hitting $100.09. 5,268,197 shares of the stock traded hands. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.72. The firm’s 50-day moving average is $97.74 and its 200-day moving average is $92.09. The stock has a market cap of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same period last year, the company earned $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, analysts forecast that Visa Inc. will post $3.43 EPS for the current year.
Visa announced that its Board of Directors has authorized a stock buyback program on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio is presently 24.54%.
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V has been the topic of a number of recent analyst reports. Piper Jaffray Companies restated a “neutral” rating and issued a $45.00 price target on shares of Visa in a report on Friday, April 14th. Royal Bank Of Canada raised their price target on shares of Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, April 21st. Cowen and Company restated an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of Visa in a report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and issued a $104.00 price target on shares of Visa in a report on Sunday, April 23rd. Finally, Instinet restated a “buy” rating and issued a $105.00 price target (up from $103.00) on shares of Visa in a report on Sunday, April 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company 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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