US Bancorp DE Purchases 10,830 Shares of Visa Inc. (NYSE:V)
US Bancorp DE boosted its stake in shares of Visa Inc. (NYSE:V) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,190,978 shares of the credit-card processor’s stock after buying an additional 10,830 shares during the period. US Bancorp DE’s holdings in Visa were worth $111,691,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC raised its position in Visa by 0.7% in the first quarter. Integrated Investment Consultants LLC now owns 2,961 shares of the credit-card processor’s stock valued at $263,000 after buying an additional 20 shares during the period. Mercer Capital Advisers Inc. raised its position 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 valued at $104,000 after buying an additional 25 shares during the period. Smithfield Trust Co. raised its position in Visa by 0.3% in the first quarter. Smithfield Trust Co. now owns 9,047 shares of the credit-card processor’s stock valued at $804,000 after buying an additional 25 shares during the period. Harwood Advisory Group LLC raised its position in Visa by 0.9% in the second quarter. Harwood Advisory Group LLC now owns 2,765 shares of the credit-card processor’s stock valued at $259,000 after buying an additional 25 shares during the period. Finally, Sky Investment Group LLC raised its position in Visa by 0.9% in the second quarter. Sky Investment Group LLC now owns 2,685 shares of the credit-card processor’s stock valued at $252,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.6381% during mid-day trading on Friday, reaching $100.1248. The company’s stock had a trading volume of 2,560,417 shares. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $101.72. The company’s 50-day moving average is $97.57 and its 200 day moving average is $91.96. The firm has a market capitalization of $228.93 billion, a P/E ratio of 37.2350 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.05. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, analysts expect that Visa Inc. will post $3.43 earnings per share 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 repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a dividend of $0.165 per share. 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 (DPR) is presently 24.54%.
Several equities analysts have issued reports on V shares. Piper Jaffray Companies reiterated a “neutral” rating and issued a $45.00 target price on shares of Visa in a research note on Friday, April 14th. Royal Bank Of Canada lifted their target price on Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. Cowen and Company reiterated an “outperform” rating and issued a $105.00 target price (up previously from $100.00) on shares of Visa in a research note on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $104.00 target price on shares of Visa in a research note on Sunday, April 23rd. Finally, Instinet reiterated a “buy” rating and issued a $105.00 target price (up previously from $103.00) on shares of Visa in a research note 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 given a strong buy rating to the stock. Visa currently has an average rating of “Buy” and an average target price 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 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 of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc. (NYSE:V).
Receive News & Ratings for Visa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.