Norris Perne & French LLP MI reduced its holdings in Visa (NYSE:V) by 0.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,276 shares of the credit-card processor’s stock after selling 1,123 shares during the period. Visa makes up 3.2% of Norris Perne & French LLP MI’s holdings, making the stock its 6th biggest position. Norris Perne & French LLP MI’s holdings in Visa were worth $22,037,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Heritage Trust Co grew its holdings in shares of Visa by 51.4% in the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after purchasing an additional 1,535 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Visa by 12.2% in the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after purchasing an additional 1,016 shares in the last quarter. Fundsmith LLP grew its holdings in Visa by 5.3% during the 2nd quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after acquiring an additional 262,930 shares in the last quarter. Beach Point Capital Management LP acquired a new position in Visa during the 3rd quarter worth approximately $5,736,000. Finally, Calamos Wealth Management LLC grew its holdings in Visa by 186.5% during the 3rd quarter. Calamos Wealth Management LLC now owns 68,524 shares of the credit-card processor’s stock worth $7,211,000 after acquiring an additional 44,609 shares in the last quarter. 81.55% of the stock is currently owned by hedge funds and other institutional investors.
V has been the subject of several analyst reports. Citigroup reiterated a “buy” rating and set a $136.00 price target (up previously from $124.00) on shares of Visa in a report on Friday, January 12th. Vetr upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $126.37 price objective for the company in a research report on Monday, February 5th. Guggenheim reiterated a “buy” rating and issued a $143.00 price target on shares of Visa in a research report on Monday. Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Thursday, January 25th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $123.00 price target on shares of Visa in a research report on Monday, January 29th. Two research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $135.19.
In related news, EVP Lynne Biggar sold 1,712 shares of Visa stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by insiders.
V traded up $1.29 during trading hours on Thursday, hitting $121.07. 5,663,905 shares of the stock were exchanged, compared to its average volume of 8,439,167. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market capitalization of $248,748.05, a PE ratio of 34.79, a price-to-earnings-growth ratio of 1.59 and a beta of 0.99. Visa has a 12 month low of $88.43 and a 12 month high of $126.88.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. research analysts anticipate that Visa will post 4.38 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has authorized a share 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 buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.
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Visa Company Profile
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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