Amundi Pioneer Asset Management Inc. reduced its stake in Visa Inc (NYSE:V) by 3.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,541,758 shares of the credit-card processor’s stock after selling 98,990 shares during the quarter. Amundi Pioneer Asset Management Inc. owned about 0.12% of Visa worth $267,495,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Visa by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after buying an additional 2,628,148 shares during the period. BlackRock Inc. grew 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 worth $10,751,846,000 after purchasing an additional 1,440,034 shares during the period. Jennison Associates LLC grew 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 worth $2,239,872,000 after purchasing an additional 209,764 shares during the period. Bank of New York Mellon Corp grew 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 worth $2,019,358,000 after purchasing an additional 1,624,700 shares during the period. Finally, Fisher Asset Management LLC grew 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 worth $1,680,838,000 after purchasing an additional 355,320 shares during the period. 81.28% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating on shares of Visa in a research note on Thursday, February 1st. KeyCorp raised their price objective on shares of Visa from $125.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Cantor Fitzgerald raised their price objective on shares of Visa to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Citigroup reiterated a “buy” rating and set a $145.00 target price (up previously from $136.00) on shares of Visa in a research report on Monday, January 29th. Finally, Oppenheimer increased their target price on Visa from $125.00 to $143.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Two equities 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 company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $133.85.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.10. The firm had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. equities research analysts expect that Visa Inc will post 4.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th 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 0.69%. This is an increase from Visa’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 15th. Visa’s dividend payout ratio (DPR) is presently 25.83%.
Visa declared that its board has authorized a stock repurchase plan on Thursday, February 1st that permits the company to repurchase $7.50 billion in shares. This repurchase authorization permits the credit-card processor to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Visa news, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the completion of the transaction, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Tullier Kelly Mahon sold 49,702 shares of Visa stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total value of $5,649,129.32. Following the completion of the transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at $8,661,119.32. The disclosure for this sale can be found here. Insiders have sold a total of 58,068 shares of company stock valued at $6,597,262 over the last three months. 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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