Xact Kapitalforvaltning AB raised its stake in Visa Inc. (NYSE:V) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 317,221 shares of the credit-card processor’s stock after buying an additional 9,849 shares during the period. Visa makes up about 0.9% of Xact Kapitalforvaltning AB’s investment portfolio, making the stock its 20th largest position. Xact Kapitalforvaltning AB’s holdings in Visa were worth $28,191,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Trust Co. of Vermont boosted its position in shares of Visa by 24.8% in the first quarter. Trust Co. of Vermont now owns 21,148 shares of the credit-card processor’s stock worth $1,879,000 after buying an additional 4,200 shares in the last quarter. Aspen Investment Management Inc boosted its position in Visa by 0.4% in the first quarter. Aspen Investment Management Inc now owns 9,272 shares of the credit-card processor’s stock worth $824,000 after buying an additional 40 shares during the period. Tradewinds Capital Management LLC boosted its position in Visa by 2.0% in the first quarter. Tradewinds Capital Management LLC now owns 5,062 shares of the credit-card processor’s stock worth $450,000 after buying an additional 98 shares during the period. Texas Yale Capital Corp. boosted its position in Visa by 3.4% in the first quarter. Texas Yale Capital Corp. now owns 19,524 shares of the credit-card processor’s stock worth $1,735,000 after buying an additional 645 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Visa by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 18,286,230 shares of the credit-card processor’s stock worth $1,625,097,000 after buying an additional 73,926 shares during the period. 82.29% of the stock is currently owned by hedge funds and other institutional investors.
Visa Inc. (NYSE V) traded up 0.34% during mid-day trading on Friday, hitting $102.51. 5,670,884 shares of the company traded hands. The firm has a market capitalization of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. Visa Inc. has a one year low of $75.17 and a one year high of $103.93. The firm has a 50 day moving average of $98.78 and a 200 day moving average of $92.76. Visa also was the target of unusually large options trading on Wednesday. Stock traders acquired 12,583 put options on the stock. This represents an increase of 163% compared to the average daily volume of 4,785 put options.
Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $4.36 billion. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 25.8% compared to the same quarter last year. Equities research analysts expect that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 5th. Investors of record on Friday, August 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is currently 24.54%.
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A number of research firms have recently issued reports on V. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 target price for the company in a research note on Tuesday, June 27th. Instinet raised their price target on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a report on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and set a $100.00 target price (up previously from $87.50) on shares of Visa in a report on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and set a $115.00 target price (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Four analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa 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 completion of the sale, the executive vice president now directly owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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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