Triangle Securities Wealth Management lessened its stake in shares of Visa Inc (NYSE:V) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,033 shares of the credit-card processor’s stock after selling 460 shares during the quarter. Visa comprises about 1.5% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 16th biggest holding. Triangle Securities Wealth Management’s holdings in Visa were worth $2,626,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after acquiring an additional 2,628,148 shares in the last quarter. BlackRock Inc. raised its holdings in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after purchasing an additional 1,440,034 shares in the last quarter. Jennison Associates LLC raised its holdings in Visa by 1.0% in the third quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock worth $2,239,872,000 after purchasing an additional 209,764 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Visa by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock worth $2,019,358,000 after purchasing an additional 1,624,700 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in shares of Visa by 2.3% during the third quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock worth $1,680,838,000 after acquiring an additional 355,320 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total value of $205,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the sale, the executive vice president now directly owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by company insiders.
Shares of Visa Inc (NYSE:V) traded down $0.62 during midday trading on Wednesday, reaching $122.58. The company’s stock had a trading volume of 7,678,511 shares, compared to its average volume of 8,274,919. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market capitalization of $276,040.00, a PE ratio of 48.06, a P/E/G ratio of 1.64 and a beta of 1.00. Visa Inc has a 12-month low of $87.85 and a 12-month high of $126.88.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. research analysts anticipate that Visa Inc will post 4.36 EPS for the current fiscal year.
Visa declared that its board has initiated a share repurchase plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.69%. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. Visa’s dividend payout ratio (DPR) is currently 32.94%.
V has been the subject of a number of analyst reports. Vetr raised Visa from a “hold” rating to a “buy” rating and set a $115.24 price target for the company in a report on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $141.00 target price on shares of Visa in a research note on Friday, December 22nd. Zacks Investment Research downgraded Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Susquehanna Bancshares upped their target price on Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Finally, Barclays reiterated a “buy” rating and set a $145.00 price target on shares of Visa in a report on Friday, January 5th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $134.14.
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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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