Searle & CO. maintained its stake in Visa Inc. (NYSE:V) during the first quarter, Holdings Channel reports. The firm owned 22,790 shares of the credit-card processor’s stock at the end of the first quarter. Visa makes up approximately 1.4% of Searle & CO.’s portfolio, making the stock its 18th largest position. Searle & CO.’s holdings in Visa were worth $2,025,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of V. Mercer Capital Advisers Inc. increased its stake in Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares during the period. Delta Asset Management LLC TN increased its stake in 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 worth $137,000 after buying an additional 38 shares during the period. State of Alaska Department of Revenue bought a new stake in Visa during the first quarter worth approximately $153,000. Pacific Center for Financial Services bought a new stake in Visa during the fourth quarter worth approximately $138,000. Finally, SRS Capital Advisors Inc. bought a new stake in Visa during the fourth quarter worth approximately $160,000. 81.92% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE V) opened at 97.58 on Wednesday. The stock’s 50 day moving average is $95.12 and its 200 day moving average is $89.92. Visa Inc. has a 12 month low of $75.17 and a 12 month high of $97.75. The stock has a market capitalization of $225.06 billion, a PE ratio of 48.69 and a beta of 0.93.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. Visa had a net margin of 28.78% and a return on equity of 29.14%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Analysts anticipate that Visa Inc. will post $3.36 earnings per share for the current fiscal year.
The firm also recently declared 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 0.68%. Visa’s dividend payout ratio is currently 33.00%.
Visa declared that its board has authorized a stock buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of equities research analysts have commented on the stock. Vetr downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $100.12 target price for the company. in a research report on Monday. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $110.00 target price on shares of Visa in a research report on Thursday, July 13th. Jefferies Group LLC set a $96.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Saturday, March 25th. Oppenheimer Holdings, Inc. boosted their price objective on shares of Visa from $100.00 to $106.00 in a research report on Tuesday. Finally, BidaskClub raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Visa currently has an average rating of “Buy” and an average target price of $99.25.
In other news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $91.94, for a total value of $2,874,044.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.
About Visa
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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