Visa Inc. (V) Shares Sold by Terra Nova Asset Management LLC
Terra Nova Asset Management LLC decreased its stake in Visa Inc. (NYSE:V) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 9,976 shares of the credit-card processor’s stock after selling 20 shares during the period. Visa makes up about 1.8% of Terra Nova Asset Management LLC’s investment portfolio, making the stock its 23rd largest position. Terra Nova Asset Management LLC’s holdings in Visa were worth $936,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in V. State Street Corp boosted its position in Visa by 0.9% in the first quarter. State Street Corp now owns 83,471,859 shares of the credit-card processor’s stock valued at $7,418,151,000 after buying an additional 722,878 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock valued at $1,625,097,000 after buying an additional 73,926 shares in the last quarter. Norges Bank purchased a new position in Visa during the fourth quarter valued at about $1,335,803,000. Fisher Asset Management LLC boosted its position in Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock valued at $1,464,483,000 after buying an additional 452,183 shares in the last quarter. Finally, MUFG Securities EMEA plc boosted its position in Visa by 7.0% in the first quarter. MUFG Securities EMEA plc now owns 11,768,474 shares of the credit-card processor’s stock valued at $1,045,864,000 after buying an additional 775,000 shares in the last quarter. Institutional investors own 82.29% of the company’s stock.
Visa Inc. (NYSE:V) traded up 1.14% on Wednesday, reaching $103.63. The company’s stock had a trading volume of 3,515,786 shares. The firm’s 50-day moving average price is $98.13 and its 200 day moving average price is $92.48. The company has a market cap of $236.94 billion, a P/E ratio of 38.54 and a beta of 0.94. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $103.75.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.57 billion for 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 firm’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is presently 24.54%.
Visa announced that its Board of Directors has approved a stock repurchase 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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Several research firms recently issued reports on V. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 price target on the stock in a report on Thursday, April 27th. Wedbush reiterated an “outperform” rating and issued a $100.00 price target (up previously from $96.00) on shares of Visa in a report on Tuesday, June 6th. Loop Capital raised their price target on Visa from $101.00 to $111.00 and gave the company a “buy” rating in a report on Friday, July 21st. They noted that the move was a valuation call. Royal Bank Of Canada raised their price target on Visa from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, April 21st. Finally, Deutsche Bank AG raised their price target on Visa from $124.00 to $150.00 and gave the company a “buy” rating in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned 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 other news, EVP Tullier Kelly Mahon sold 29,772 shares of the 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 completion of the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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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