Next Century Growth Investors LLC trimmed its holdings in Visa (NYSE:V) by 33.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,151 shares of the credit-card processor’s stock after selling 13,627 shares during the quarter. Next Century Growth Investors LLC’s holdings in Visa were worth $3,095,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the business. Pax World Management LLC raised its holdings in shares of Visa by 6.9% during the 3rd quarter. Pax World Management LLC now owns 15,538 shares of the credit-card processor’s stock worth $1,635,000 after acquiring an additional 1,000 shares in the last quarter. YCG LLC purchased a new stake in shares of Visa during the 3rd quarter worth approximately $438,000. Candriam Luxembourg S.C.A. raised its holdings in shares of Visa by 33.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 334,543 shares of the credit-card processor’s stock worth $35,207,000 after acquiring an additional 84,014 shares in the last quarter. Jennison Associates LLC raised its holdings 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 worth $2,239,872,000 after acquiring an additional 209,764 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Visa during the 3rd quarter worth approximately $642,000. Institutional investors and hedge funds own 82.07% of the company’s stock.
In other news, SVP James H. Hoffmeister sold 8,423 shares of the stock in a transaction on Monday, April 30th. The stock was sold at an average price of $127.67, for a total transaction of $1,075,364.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Ryan Mcinerney sold 38,500 shares of the stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $131.33, for a total value of $5,056,205.00. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.
Shares of Visa stock opened at $129.93 on Friday. The firm has a market capitalization of $267.96 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 1.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.94 and a current ratio of 1.94. Visa has a 52 week low of $130.72 and a 52 week high of $131.39.
Visa (NYSE:V) last posted its quarterly earnings results on Wednesday, April 25th. The credit-card processor reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.10. Visa had a return on equity of 33.90% and a net margin of 48.18%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. equities analysts expect that Visa will post 4.46 EPS for the current fiscal year.
Visa declared that its board has initiated a share repurchase program on Thursday, February 1st that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 5th. Stockholders of record on Friday, May 18th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Thursday, May 17th. Visa’s payout ratio is 24.14%.
Several analysts have recently issued reports on V shares. DZ Bank reaffirmed a “hold” rating on shares of Visa in a report on Wednesday, January 24th. Morgan Stanley increased their price target on Visa from $126.00 to $137.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Oppenheimer increased their price target on Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Thursday, January 25th. Finally, Citigroup restated a “buy” rating and set a $145.00 price target (up previously from $136.00) on shares of Visa in a report on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $137.42.
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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