Visa Inc. (V) Stake Increased by Whittier Trust Co. of Nevada Inc.
Whittier Trust Co. of Nevada Inc. increased its position in Visa Inc. (NYSE:V) by 2.3% during the second quarter, Holdings Channel reports. The firm owned 112,698 shares of the credit-card processor’s stock after buying an additional 2,534 shares during the period. Visa accounts for 1.0% of Whittier Trust Co. of Nevada Inc.’s holdings, making the stock its 21st largest position. Whittier Trust Co. of Nevada Inc.’s holdings in Visa were worth $10,569,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in V. Vicus Capital raised 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 in the last quarter. SNS Financial Group LLC acquired a new position in Visa during the fourth quarter worth about $367,000. CMH Wealth Management LLC acquired a new position in Visa during the fourth quarter worth about $1,568,000. Putnam Investments LLC raised 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 in the last quarter. Finally, Jarislowsky Fraser Ltd acquired a new position in Visa during the fourth quarter worth about $1,705,000. Institutional investors own 82.46% of the company’s stock.
Shares of Visa Inc. (V) traded up 0.60% on Friday, hitting $100.09. 5,268,197 shares of the stock traded hands. The firm’s 50 day moving average is $97.74 and its 200-day moving average 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 cap of $228.85 billion, a PE ratio of 37.22 and a beta of 0.94.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. During the same quarter last year, the business posted $0.69 earnings per share. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. Equities analysts predict that Visa Inc. will post $3.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be given 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%.
Visa announced that its board has approved a share repurchase plan 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have issued reports on the stock. BidaskClub raised shares of Visa from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Sanford C. Bernstein reissued an “outperform” rating and set a $110.00 price target on shares of Visa in a research report on Thursday, July 13th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $100.12 price target for the company. in a research report on Monday, July 17th. Sandler O’Neill reissued a “hold” rating on shares of Visa in a research report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. raised their price target on shares of Visa from $100.00 to $106.00 in a research report on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus 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 on 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 sale, the executive vice president now owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company 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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