Westwood Management Corp IL raised its stake in shares of Visa Inc. (NYSE:V) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,900 shares of the credit-card processor’s stock after buying an additional 1,100 shares during the period. Visa accounts for about 0.9% of Westwood Management Corp IL’s investment portfolio, making the stock its 21st largest position. Westwood Management Corp IL’s holdings in Visa were worth $5,805,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. raised its position 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 valued at $104,000 after buying an additional 25 shares during the last quarter. Mascoma Wealth Management LLC acquired a new position in Visa during the second quarter valued at about $122,000. SpiderRock Advisors LLC raised its position in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock valued at $124,000 after buying an additional 19,709 shares during the last quarter. Advantage Investment Management LLC raised its position in Visa by 27.4% in the first quarter. Advantage Investment Management LLC now owns 1,462 shares of the credit-card processor’s stock valued at $130,000 after buying an additional 314 shares during the last quarter. Finally, Delta Asset Management LLC TN raised its position 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 valued at $137,000 after buying an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Shares of Visa Inc. (V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company traded hands. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $103.93. The stock has a market capitalization of $234.38 billion, a price-to-earnings ratio of 38.12 and a beta of 0.94. The company has a 50-day moving average of $98.78 and a 200-day moving average of $92.76.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.36 billion. During the same quarter in the previous year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was up 25.8% on a year-over-year basis. Analysts anticipate 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. Shareholders 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 dividend on an annualized basis and a yield of 0.64%. Visa’s payout ratio is 24.54%.
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V has been the subject of several recent research reports. Oppenheimer Holdings, Inc. lifted their target price on shares of Visa from $100.00 to $106.00 in a report on Tuesday, July 18th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $95.32 target price for the company in a report on Thursday, April 27th. Citigroup Inc. reiterated a “buy” rating and set a $100.00 target price on shares of Visa in a report on Thursday, May 25th. Instinet reiterated a “buy” rating and set a $105.00 target price (up from $103.00) on shares of Visa in a report on Sunday, April 23rd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $104.00 target price on shares of Visa in a report on Sunday, April 23rd. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $104.56.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction on 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 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 Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by 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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