AT Bancorp increased its stake in shares of Visa Inc. (NYSE:V) by 66.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Norges Bank purchased a new stake in Visa during the fourth quarter worth $1,335,803,000. Fisher Asset Management LLC raised its stake in Visa by 1.4% in the first quarter. Fisher Asset Management LLC now owns 15,163,968 shares of the credit-card processor’s stock worth $1,347,622,000 after buying an additional 206,225 shares during the period. Loomis Sayles & Co. L P raised its stake in Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock worth $1,092,500,000 after buying an additional 531,327 shares during the period. MUFG Securities EMEA plc raised its stake 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 worth $1,045,864,000 after buying an additional 775,000 shares during the period. Finally, C WorldWide Group Holding A S raised its stake in Visa by 10.2% in the first quarter. C WorldWide Group Holding A S now owns 8,379,106 shares of the credit-card processor’s stock worth $744,651,000 after buying an additional 773,707 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
Shares of Visa Inc. (NYSE:V) traded down 0.31% during midday trading on Wednesday, hitting $100.97. 6,687,119 shares of the company’s stock were exchanged. The stock has a market cap of $230.86 billion, a PE ratio of 37.55 and a beta of 0.94. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $101.30. The stock’s 50 day moving average is $96.32 and its 200-day moving average is $91.20.
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 the consensus estimate of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.36 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. Analysts predict that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
Visa announced that its board has authorized 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
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 issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is 24.54%.
V has been the topic of a number of research reports. CIBC raised their target price on shares of Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research report on Monday, May 29th. Deutsche Bank AG increased their price objective on shares of Visa from $124.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, July 10th. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a research note on Monday, June 5th. Finally, Cowen and Company reiterated an “outperform” rating and set a $105.00 price objective (up from $100.00) on shares of Visa in a research note on Sunday, April 23rd. Four research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were 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 owns 17,360 shares of the company’s stock, valued at $1,751,797.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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