Visa Inc. (NYSE:V) Stake Raised by AT Bancorp

AT Bancorp increased its stake in Visa Inc. (NYSE:V) by 66.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,223 shares of the credit-card processor’s stock after buying an additional 8,049 shares during the period. AT Bancorp’s holdings in Visa were worth $1,797,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Pekin Singer Strauss Asset Management IL bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,104,000. Capital International Inc. CA increased its stake in shares of Visa by 32.1% in the fourth quarter. Capital International Inc. CA now owns 157,800 shares of the credit-card processor’s stock valued at $12,312,000 after buying an additional 38,300 shares during the period. Private Trust Co. NA increased its stake in shares of Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock valued at $3,287,000 after buying an additional 4,138 shares during the period. West Oak Capital LLC increased its stake in shares of Visa by 20.0% in the first quarter. West Oak Capital LLC now owns 3,589 shares of the credit-card processor’s stock valued at $319,000 after buying an additional 598 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Visa by 28.4% in the fourth quarter. AQR Capital Management LLC now owns 475,449 shares of the credit-card processor’s stock valued at $37,095,000 after buying an additional 105,030 shares during the period. 82.02% of the stock is owned by institutional investors.

Shares of Visa Inc. (NYSE:V) opened at 99.15 on Friday. The stock has a market cap of $226.70 billion, a price-to-earnings ratio of 36.87 and a beta of 0.93. The company has a 50-day moving average price of $95.97 and a 200 day moving average price of $90.79. Visa Inc. has a one year low of $75.17 and a one year high of $101.18.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The firm 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 company’s quarterly revenue was up 25.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 earnings per share. Equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current year.

Visa declared that its board has authorized a share repurchase plan on Thursday, April 20th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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 $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio is 24.54%.

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V has been the subject of several recent analyst reports. Citigroup Inc. reaffirmed a “buy” rating and set a $100.00 price objective on shares of Visa in a research report on Thursday, May 25th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $95.32 target price on the stock in a report on Thursday, April 27th. Deutsche Bank AG increased their target price on Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, July 10th. Nomura increased their target price on Visa from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, Credit Suisse Group set a $112.00 target price on Visa and gave the stock a “buy” rating in a report on Saturday, July 22nd. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $104.35.

In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the stock in a transaction dated 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 transaction, 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. 0.14% of the stock is currently owned by corporate insiders.

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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