Blue Granite Capital LLC cut its position in Visa Inc. (NYSE:V) by 11.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,110 shares of the credit-card processor’s stock after selling 4,300 shares during the period. Visa accounts for 2.1% of Blue Granite Capital LLC’s portfolio, making the stock its 15th largest position. Blue Granite Capital LLC’s holdings in Visa were worth $3,200,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Mercer Capital Advisers Inc. boosted its position in shares of Visa by 2.2% in the first quarter. Mercer Capital Advisers Inc. now owns 1,167 shares of the credit-card processor’s stock worth $104,000 after buying an additional 25 shares in the last quarter. Mascoma Wealth Management LLC acquired a new position in shares of Visa during the second quarter worth about $122,000. SpiderRock Advisors LLC boosted its stake in Visa by 107.1% in the second quarter. SpiderRock Advisors LLC now owns 1,309 shares of the credit-card processor’s stock worth $124,000 after buying an additional 19,709 shares during the period. Advantage Investment Management LLC boosted its stake 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 worth $130,000 after buying an additional 314 shares during the period. Finally, Delta Asset Management LLC TN boosted its stake 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 worth $137,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 82.29% of the company’s stock.
Visa Inc. (V) traded up 0.34% during trading on Friday, reaching $102.51. 5,670,884 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $98.78 and its 200 day moving average price is $92.76. The firm has a market cap of $234.38 billion, a P/E ratio of 38.12 and a beta of 0.94. Visa Inc. has a 52-week low of $75.17 and a 52-week high of $103.93. Visa also was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 12,583 put options on the stock. This is an increase of 163% compared to the typical 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 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 firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the firm earned $0.69 EPS. The business’s quarterly revenue was up 25.8% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post $3.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Investors 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 0.64%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is presently 24.54%.
Visa announced that its Board of Directors has initiated a stock repurchase plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit-card processor to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.
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A number of research firms have recently weighed in on V. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $110.00 price objective on shares of Visa in a research note on Thursday, July 13th. Sandler O’Neill reiterated a “hold” rating on shares of Visa in a research note on Wednesday, June 21st. Oppenheimer Holdings, Inc. raised their price objective on shares of Visa from $100.00 to $106.00 in a research note on Tuesday, July 18th. Finally, Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $100.12 price objective on the stock. in a research note on Monday, July 17th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.56.
In related news, EVP Tullier Kelly Mahon sold 29,772 shares of Visa stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the sale, the executive vice president now directly owns 17,360 shares of the company’s stock, valued at approximately $1,751,797.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.
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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