Genesee Valley Trust Co. decreased its position in Visa Inc. (NYSE:V) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,725 shares of the credit-card processor’s stock after selling 555 shares during the period. Visa makes up 2.1% of Genesee Valley Trust Co.’s investment portfolio, making the stock its 2nd largest position. Genesee Valley Trust Co.’s holdings in Visa were worth $3,086,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of V. Cpcm LLC bought a new position in shares of Visa during the fourth quarter worth approximately $2,722,000. Folger Hill Asset Management LP acquired a new stake in Visa during the fourth quarter worth approximately $474,000. Chilton Capital Management LLC increased its stake in Visa by 8.5% in the fourth quarter. Chilton Capital Management LLC now owns 135,794 shares of the credit-card processor’s stock worth $10,595,000 after buying an additional 10,613 shares in the last quarter. InterOcean Capital LLC increased its stake in Visa by 5.9% in the fourth quarter. InterOcean Capital LLC now owns 2,889 shares of the credit-card processor’s stock worth $225,000 after buying an additional 162 shares in the last quarter. Finally, Parallel Advisors LLC bought a new position in Visa during the fourth quarter valued at approximately $3,189,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Visa Inc. (NYSE V) traded up 0.34% on Friday, reaching $102.51. 5,670,884 shares of the company were exchanged. The stock 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 12-month low of $75.17 and a 12-month high of $103.93. The company’s 50-day moving average price is $98.78 and its 200-day moving average price is $92.76. Visa also was the target of some unusual options trading activity on Wednesday. Investors bought 12,583 put options on the company. This represents an increase of approximately 163% compared to the typical volume of 4,785 put options.
Visa (NYSE:V) last posted its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business’s revenue was up 25.8% compared to the same quarter last year. Equities research analysts anticipate that Visa Inc. will post $3.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Friday, August 18th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.64%. Visa’s payout ratio is 24.54%.
Visa declared that its board has authorized a stock buyback plan on Thursday, April 20th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several analysts have commented on the company. BidaskClub raised Visa from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 10th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Citigroup Inc. restated a “buy” rating and issued a $115.00 price target (up previously from $100.00) on shares of Visa in a report on Monday, July 24th. Bank of America Corporation raised their price objective on Visa from $103.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Cowen and Company restated an “outperform” rating and set a $107.00 target price (up from $105.00) on shares of Visa in a research note on Saturday, July 22nd. Four 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’s stock. The stock 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 the stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate 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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