Segall Bryant & Hamill LLC lessened its stake in Visa Inc (NYSE:V) by 2.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 559,428 shares of the credit-card processor’s stock after selling 15,473 shares during the quarter. Visa comprises about 1.4% of Segall Bryant & Hamill LLC’s holdings, making the stock its 9th largest holding. Segall Bryant & Hamill LLC’s holdings in Visa were worth $58,874,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. Vanguard Group Inc. boosted its stake in shares of Visa by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock valued at $11,911,973,000 after buying an additional 2,628,148 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock valued at $10,751,846,000 after buying an additional 1,440,034 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Visa by 1.0% during the 3rd quarter. Jennison Associates LLC now owns 21,283,466 shares of the credit-card processor’s stock valued at $2,239,872,000 after buying an additional 209,764 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Visa by 9.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,188,126 shares of the credit-card processor’s stock valued at $2,019,358,000 after buying an additional 1,624,700 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Visa by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 15,971,471 shares of the credit-card processor’s stock valued at $1,680,838,000 after buying an additional 355,320 shares during the last quarter. Hedge funds and other institutional investors own 81.59% of the company’s stock.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at $77,005.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Matschullat sold 6,220 shares of the stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the completion of the sale, the director now directly owns 57,368 shares in the company, valued at $6,526,183.68. The disclosure for this sale can be found here. Insiders sold 59,780 shares of company stock worth $6,802,702 over the last ninety days. 0.14% of the stock is owned by corporate insiders.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company posted $0.86 EPS. The business’s revenue was up 9.0% compared to the same quarter last year. research analysts predict that Visa Inc will post 4.37 earnings per share for the current year.
Visa announced that its Board of Directors has authorized a stock buyback program on Thursday, February 1st that authorizes the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization authorizes the credit-card processor to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Shareholders of record on Friday, February 16th will be given a $0.21 dividend. The ex-dividend date is Thursday, February 15th. This is a positive change from Visa’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is currently 27.81%.
Several equities analysts have recently commented on V shares. Susquehanna Bancshares increased their target price on Visa from $126.00 to $148.00 in a research note on Thursday, December 28th. Cantor Fitzgerald reiterated a “buy” rating and set a $120.00 target price on shares of Visa in a research note on Wednesday, October 25th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Wells Fargo & Co reiterated an “outperform” rating and set a $135.00 target price (up from $127.00) on shares of Visa in a research note on Tuesday, January 9th. Finally, Jefferies Group increased their target price on Visa from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Visa presently has a consensus rating of “Buy” and an average target price of $133.85.
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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