Front Row Advisors LLC raised its stake in Visa Inc (NYSE:V) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,494 shares of the credit-card processor’s stock after purchasing an additional 130 shares during the quarter. Visa makes up about 1.5% of Front Row Advisors LLC’s portfolio, making the stock its 10th biggest holding. Front Row Advisors LLC’s holdings in Visa were worth $1,951,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. Martingale Asset Management L P boosted its stake in Visa by 11.5% during the 3rd quarter. Martingale Asset Management L P now owns 73,991 shares of the credit-card processor’s stock worth $11,106,000 after purchasing an additional 7,605 shares during the period. Standard Life Aberdeen plc raised its position in Visa by 2.3% during the 3rd quarter. Standard Life Aberdeen plc now owns 3,431,542 shares of the credit-card processor’s stock worth $515,039,000 after buying an additional 78,550 shares during the last quarter. Port Capital LLC raised its position in Visa by 1.5% during the 3rd quarter. Port Capital LLC now owns 76,515 shares of the credit-card processor’s stock worth $11,484,000 after buying an additional 1,118 shares during the last quarter. Lido Advisors LLC raised its position in Visa by 22.5% during the 3rd quarter. Lido Advisors LLC now owns 21,495 shares of the credit-card processor’s stock worth $3,226,000 after buying an additional 3,954 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its position in Visa by 9.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 10,153 shares of the credit-card processor’s stock worth $1,524,000 after buying an additional 904 shares during the last quarter. Hedge funds and other institutional investors own 80.97% of the company’s stock.
In other Visa news, EVP William M. Sheedy sold 75,676 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $165.24, for a total transaction of $12,504,702.24. Following the sale, the executive vice president now directly owns 300,114 shares of the company’s stock, valued at approximately $49,590,837.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.
A number of equities analysts have commented on V shares. Oppenheimer upped their price objective on shares of Visa from $162.00 to $176.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating and set a $180.00 price objective for the company. in a research report on Saturday. Wedbush increased their price target on shares of Visa from $150.00 to $162.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Goldman Sachs Group reiterated a “buy” rating and issued a $188.00 price target on shares of Visa in a report on Thursday, May 2nd. Finally, Wells Fargo & Co increased their price target on shares of Visa from $161.00 to $181.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Visa has an average rating of “Buy” and an average price target of $178.17.
NYSE:V opened at $169.66 on Monday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.58. Visa Inc has a twelve month low of $121.60 and a twelve month high of $172.20. The stock has a market cap of $338.65 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 1.92 and a beta of 0.95.
Visa (NYSE:V) last posted its earnings results on Wednesday, April 24th. The credit-card processor reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.07. Visa had a net margin of 51.34% and a return on equity of 40.56%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the firm posted $1.11 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts forecast that Visa Inc will post 5.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Shareholders of record on Friday, May 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.00 annualized dividend and a yield of 0.59%. Visa’s dividend payout ratio (DPR) is currently 21.69%.
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Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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