Visa Inc. (NYSE:V) Position Lowered by Skylands Capital LLC
Skylands Capital LLC reduced its position in shares of Visa Inc. (NYSE:V) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,250 shares of the credit-card processor’s stock after selling 7,250 shares during the period. Visa comprises 1.4% of Skylands Capital LLC’s investment portfolio, making the stock its 17th largest position. Skylands Capital LLC’s holdings in Visa were worth $10,339,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Mercer Capital Advisers Inc. boosted its stake in shares of 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 last quarter. Mascoma Wealth Management LLC purchased a new stake in shares of Visa during the second quarter valued at approximately $122,000. SpiderRock Advisors LLC boosted its stake in shares of Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC boosted its stake in shares of Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN boosted its stake in shares of 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 valued at $137,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 82.29% of the company’s stock.
Shares of Visa Inc. (NYSE V) traded up 1.79% during midday trading on Monday, reaching $101.88. The company’s stock had a trading volume of 2,597,558 shares. The firm has a market capitalization of $232.94 billion, a price-to-earnings ratio of 37.89 and a beta of 0.94. Visa Inc. has a 52 week low of $75.17 and a 52 week high of $101.97. The firm’s 50 day moving average is $97.74 and its 200 day moving average is $92.09.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The firm’s quarterly revenue was up 25.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Equities analysts forecast that Visa Inc. will post $3.43 EPS for the current fiscal year.
Visa declared that its Board of Directors has approved a share buyback program on Thursday, April 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.65%. 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 subject of several research reports. Citigroup Inc. reiterated a “buy” rating and set a $100.00 price target on shares of Visa in a research report on Thursday, May 25th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 price target for the company in a research report on Thursday, April 27th. Deutsche Bank AG boosted their price target on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Nomura upped their target price on Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the company a “buy” rating in a report on Saturday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Visa has a consensus rating of “Buy” and a consensus 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 transaction, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.14% of the company’s stock.
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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