Stonebridge Capital Advisors LLC Has $6.85 Million Stake in Visa Inc. (V)
Stonebridge Capital Advisors LLC cut its stake in Visa Inc. (NYSE:V) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,032 shares of the credit-card processor’s stock after selling 1,193 shares during the period. Visa accounts for approximately 1.9% of Stonebridge Capital Advisors LLC’s portfolio, making the stock its 9th largest position. Stonebridge Capital Advisors LLC’s holdings in Visa were worth $6,846,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ibex Wealth Advisors boosted its position in shares of Visa by 3.2% in the first quarter. Ibex Wealth Advisors now owns 50,828 shares of the credit-card processor’s stock valued at $4,525,000 after buying an additional 1,579 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of Visa during the first quarter valued at about $7,938,000. Community Trust & Investment Co. boosted its position in shares of Visa by 2.3% in the first quarter. Community Trust & Investment Co. now owns 259,304 shares of the credit-card processor’s stock valued at $23,044,000 after buying an additional 5,813 shares during the last quarter. Chemung Canal Trust Co. boosted its position in shares of Visa by 8.5% in the first quarter. Chemung Canal Trust Co. now owns 85,990 shares of the credit-card processor’s stock valued at $7,641,000 after buying an additional 6,763 shares during the last quarter. Finally, Lowe Brockenbrough & Co. Inc. boosted its position in shares of Visa by 49.4% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 6,196 shares of the credit-card processor’s stock valued at $551,000 after buying an additional 2,050 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.
Visa Inc. (NYSE:V) traded down 0.0289% during trading on Thursday, reaching $103.2901. 1,389,224 shares of the company’s stock were exchanged. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $103.93. The stock has a 50-day moving average of $98.38 and a 200-day moving average of $92.56. The stock has a market capitalization of $236.17 billion, a PE ratio of 38.4121 and a beta of 0.94. Visa also was the target of some unusual options trading on Wednesday. Traders acquired 12,583 put options on the stock. This is an increase of 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last released its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS 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 business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts anticipate that Visa Inc. will post $3.43 EPS for the current year.
Visa announced that its board has approved 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign 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. Stockholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is presently 24.54%.
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Several brokerages have issued reports on V. BidaskClub upgraded shares of Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Tuesday, August 1st. Citigroup Inc. reiterated a “buy” rating and set a $115.00 target price (up from $100.00) on shares of Visa in a report on Monday, July 24th. Wells Fargo & Company reiterated a “market perform” rating and set a $100.00 target price (up from $87.50) on shares of Visa in a report on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. 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’s stock. Visa currently has a consensus rating of “Buy” and an average target price of $104.56.
In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction that occurred 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 owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.
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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