Visa Inc. (NYSE:V) Shares Sold by Keel Point LLC
Keel Point LLC decreased its stake in shares of Visa Inc. (NYSE:V) by 0.0% during the first quarter, Holdings Channel reports. The fund owned 11,673 shares of the credit-card processor’s stock after selling 1 shares during the period. Keel Point LLC’s holdings in Visa were worth $1,037,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Vicus Capital raised its stake in shares of Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock valued at $419,000 after buying an additional 701 shares during the period. SNS Financial Group LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $367,000. CMH Wealth Management LLC acquired a new stake in shares of Visa during the fourth quarter valued at about $1,568,000. Putnam Investments LLC raised its stake in shares of Visa by 0.5% in the fourth quarter. Putnam Investments LLC now owns 5,472,318 shares of the credit-card processor’s stock valued at $426,950,000 after buying an additional 29,207 shares during the period. Finally, Jarislowsky Fraser Ltd acquired a new stake in shares of Visa during the fourth quarter valued at about $1,705,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
Shares of Visa Inc. (NYSE:V) traded up 0.60% during mid-day trading on Friday, hitting $100.09. 5,268,197 shares of the company were exchanged. The company has a market capitalization of $228.85 billion, a price-to-earnings ratio of 37.22 and a beta of 0.94. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $101.72. The firm has a 50 day moving average of $97.74 and a 200 day moving average of $92.09.
Visa (NYSE:V) last posted 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 analyst estimates 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 period in the previous year, the firm earned $0.69 earnings per share. Equities research analysts forecast that Visa Inc. will post $3.43 earnings per share for the current year.
Visa declared that its Board of Directors has initiated 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio is currently 24.54%.
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Several equities research analysts have issued reports on the stock. BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a report on Tuesday, August 1st. Citigroup Inc. reissued a “buy” rating and issued a $115.00 price target (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Wells Fargo & Company reissued a “market perform” rating and issued a $100.00 price target (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Finally, Credit Suisse Group set a $112.00 price target on shares of Visa and gave the company a “buy” rating in a report on Saturday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and a consensus price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The stock was 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 of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is 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.
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