Genesee Valley Trust Co. Has $3.09 Million Position in Visa Inc. (NYSE:V)

Genesee Valley Trust Co. reduced its stake in shares of Visa Inc. (NYSE:V) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,725 shares of the credit-card processor’s stock after selling 555 shares during the period. Visa comprises approximately 2.1% of Genesee Valley Trust Co.’s holdings, making the stock its 2nd largest position. Genesee Valley Trust Co.’s holdings in Visa were worth $3,086,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Vicus Capital increased its position 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 worth $419,000 after buying an additional 701 shares in the last quarter. Blenheim Capital Management BV bought a new position in shares of Visa during the fourth quarter worth approximately $211,000. Roundview Capital LLC increased its position in shares of Visa by 1.3% in the fourth quarter. Roundview Capital LLC now owns 9,109 shares of the credit-card processor’s stock worth $711,000 after buying an additional 120 shares in the last quarter. Intact Investment Management Inc. increased its position in shares of Visa by 242.6% in the fourth quarter. Intact Investment Management Inc. now owns 20,900 shares of the credit-card processor’s stock worth $1,634,000 after buying an additional 14,800 shares in the last quarter. Finally, Weitz Investment Management Inc. increased its position in shares of Visa by 16,443.8% in the fourth quarter. Weitz Investment Management Inc. now owns 860,277 shares of the credit-card processor’s stock worth $67,119,000 after buying an additional 855,077 shares in the last quarter. 81.92% of the stock is owned by institutional investors.

Shares of Visa Inc. (NYSE V) opened at 99.60 on Monday. The firm has a 50-day moving average price of $95.30 and a 200 day moving average price of $90.04. The firm has a market cap of $227.73 billion, a price-to-earnings ratio of 37.04 and a beta of 0.93. Visa Inc. has a 12-month low of $75.17 and a 12-month high of $100.49.

Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 31.04% and a net margin of 36.53%. The company’s revenue was up 25.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that Visa Inc. will post $3.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is presently 24.54%.

Visa declared that its Board of Directors has authorized a stock buyback plan on Thursday, April 20th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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A number of equities analysts have recently commented on the company. Bank of America Corporation boosted their price objective on Visa from $103.00 to $111.00 and gave the stock a “buy” rating in a research report on Friday. Barclays PLC reissued an “overweight” rating and set a $114.00 price objective (up from $111.00) on shares of Visa in a research report on Saturday. Wells Fargo & Company reissued a “market perform” rating and set a $100.00 price objective (up from $87.50) on shares of Visa in a research report on Saturday. Morgan Stanley reissued an “overweight” rating and set a $114.00 price objective (up from $107.00) on shares of Visa in a research report on Saturday. Finally, Cowen and Company reissued an “outperform” rating and set a $107.00 price objective (up from $105.00) on shares of Visa in a research report on Saturday. Five research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $103.37.

In other news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

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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