Visa Inc (V) Shares Bought by MERIAN GLOBAL INVESTORS UK Ltd
MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Visa Inc (NYSE:V) by 58.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,514,535 shares of the credit-card processor’s stock after acquiring an additional 556,569 shares during the quarter. Visa comprises 1.8% of MERIAN GLOBAL INVESTORS UK Ltd’s portfolio, making the stock its 14th largest holding. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Visa were worth $199,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Highwater Wealth Management LLC bought a new position in Visa during the fourth quarter valued at approximately $33,000. Essex Investment Management Co. LLC bought a new position in Visa during the fourth quarter valued at approximately $33,000. Ironwood Financial llc raised its position in Visa by 67.5% during the fourth quarter. Ironwood Financial llc now owns 335 shares of the credit-card processor’s stock valued at $44,000 after acquiring an additional 135 shares in the last quarter. Contravisory Investment Management Inc. raised its position in Visa by 180.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 396 shares of the credit-card processor’s stock valued at $52,000 after acquiring an additional 255 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in Visa during the fourth quarter valued at approximately $57,000. 81.42% of the stock is owned by institutional investors and hedge funds.
In other news, SVP James H. Hoffmeister sold 6,480 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $151.00, for a total value of $978,480.00. Following the sale, the senior vice president now owns 6,480 shares in the company, valued at $978,480. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Lynne Biggar sold 15,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $150.00, for a total transaction of $2,250,000.00. Following the completion of the sale, the executive vice president now owns 22,294 shares in the company, valued at approximately $3,344,100. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,202 shares of company stock worth $29,962,762. 0.17% of the stock is currently owned by corporate insiders.
Visa (NYSE:V) last announced its quarterly earnings data on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.07. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. Visa had a net margin of 51.34% and a return on equity of 40.56%. Visa’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.11 earnings per share. On average, sell-side analysts anticipate that Visa Inc will post 5.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Friday, May 17th will be paid a $0.25 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. Visa’s payout ratio is 21.69%.
Several equities analysts have commented on V shares. Jefferies Financial Group started coverage on Visa in a report on Monday, January 28th. They set a “buy” rating and a $135.99 price target on the stock. Cantor Fitzgerald reiterated a “buy” rating and set a $160.00 price target on shares of Visa in a report on Thursday, January 31st. Raymond James reiterated an “outperform” rating and set a $152.00 price target (down previously from $167.00) on shares of Visa in a report on Thursday, January 31st. SunTrust Banks reiterated an “outperform” rating and set a $250.00 price target on shares of Visa in a report on Friday, February 1st. Finally, reiterated a “buy” rating on shares of Visa in a report on Tuesday, February 12th. One investment analyst has rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Visa currently has an average rating of “Buy” and an average target price of $177.67.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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