Visa Inc. (NYSE:V) Position Increased by Two Sigma Securities LLC
Two Sigma Securities LLC boosted its position in Visa Inc. (NYSE:V) by 10.2% during the first quarter, Holdings Channel reports. The firm owned 15,028 shares of the credit-card processor’s stock after buying an additional 1,388 shares during the period. Two Sigma Securities LLC’s holdings in Visa were worth $1,336,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Vicus Capital increased its position in Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares during the period. SNS Financial Group LLC purchased a new position in Visa during the fourth quarter worth approximately $367,000. CMH Wealth Management LLC purchased a new position in Visa during the fourth quarter worth approximately $1,568,000. Putnam Investments LLC increased its position in Visa by 0.5% in the fourth quarter. Putnam Investments LLC now owns 5,472,318 shares of the credit-card processor’s stock worth $426,950,000 after buying an additional 29,207 shares during the period. Finally, Jarislowsky Fraser Ltd purchased a new position in Visa during the fourth quarter worth approximately $1,705,000. Institutional investors and hedge funds own 82.46% of the company’s stock.
Shares of Visa Inc. (V) traded up 0.60% during midday trading on Friday, reaching $100.09. The company had a trading volume of 5,268,197 shares. The firm’s 50 day moving average price is $97.74 and its 200-day moving average price is $92.09. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $101.72. The company 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 earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the prior year, the business earned $0.69 earnings per share. Visa’s quarterly revenue was up 25.8% on a year-over-year basis. Analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. Visa’s payout ratio is 24.54%.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Citigroup Inc. reiterated a “buy” rating and issued a $115.00 price target (up from $100.00) on shares of Visa in a research note on Monday, July 24th. Bank of America Corporation lifted their price target on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Finally, Cowen and Company reiterated an “outperform” rating and issued a $107.00 price target (up from $105.00) on shares of Visa in a research note on Saturday, July 22nd. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total value of $3,004,292.52. Following the transaction, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently 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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