Alerus Financial NA raised its position in Visa Inc. (NYSE:V) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,080 shares of the credit-card processor’s stock after buying an additional 729 shares during the period. Alerus Financial NA’s holdings in Visa were worth $6,317,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. boosted its stake 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 during the period. DUPONT CAPITAL MANAGEMENT Corp boosted its stake in shares of Visa by 3.2% in the first quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 337,292 shares of the credit-card processor’s stock worth $29,975,000 after buying an additional 10,303 shares during the period. Jones Collombin Investment Counsel Inc boosted its stake in Visa by 979.9% in the first quarter. Jones Collombin Investment Counsel Inc now owns 17,495 shares of the credit-card processor’s stock valued at $1,555,000 after buying an additional 15,875 shares during the last quarter. Reilly Herbert Faulkner III boosted its stake in Visa by 0.9% in the first quarter. Reilly Herbert Faulkner III now owns 52,531 shares of the credit-card processor’s stock valued at $4,668,000 after buying an additional 488 shares during the last quarter. Finally, Lourd Capital LLC boosted its stake in Visa by 74.3% in the first quarter. Lourd Capital LLC now owns 4,908 shares of the credit-card processor’s stock valued at $436,000 after buying an additional 2,092 shares during the last quarter. 82.02% of the stock is owned by institutional investors.
Shares of Visa Inc. (NYSE V) traded down 0.42% during midday trading on Friday, reaching $99.15. The company had a trading volume of 6,558,846 shares. The stock has a market capitalization of $226.70 billion, a PE ratio of 36.87 and a beta of 0.93. Visa Inc. has a 1-year low of $75.17 and a 1-year high of $101.18. The company’s 50-day moving average is $95.97 and its 200-day moving average is $90.79.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. Visa’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, equities research analysts forecast that Visa Inc. will post $3.43 EPS for the current year.
Visa announced that its board has initiated a stock repurchase program on Thursday, April 20th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit-card processor to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, August 16th. Visa’s payout ratio is 24.54%.
Several research firms have weighed in on V. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $100.12 price objective for the company in a research report on Tuesday, June 27th. Instinet raised their target price on shares of Visa from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $100.00 target price (up previously from $87.50) on shares of Visa in a research note on Saturday, July 22nd. Citigroup Inc. reaffirmed a “buy” rating and issued a $115.00 target price (up previously from $100.00) on shares of Visa in a research note on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $104.35.
In other Visa news, EVP Tullier Kelly Mahon sold 29,772 shares of the company’s 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 owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate 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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