Wendell David Associates Inc. lifted its stake in shares of Visa Inc (NYSE:V) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,776 shares of the credit-card processor’s stock after buying an additional 925 shares during the period. Wendell David Associates Inc.’s holdings in Visa were worth $1,571,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in V. Vantage Financial Partners Ltd. Inc. purchased a new position in Visa in the second quarter worth $958,000. Welch Investments LLC purchased a new position in Visa in the third quarter worth $101,000. Cordasco Financial Network purchased a new position in Visa in the third quarter worth $105,000. Massey Quick Simon & CO. LLC purchased a new position in Visa in the third quarter worth $110,000. Finally, Motco boosted its position in Visa by 25.1% in the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after purchasing an additional 236 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.
Several brokerages have issued reports on V. Guggenheim restated a “buy” rating and issued a $136.00 target price on shares of Visa in a research note on Friday, February 2nd. Morgan Stanley boosted their target price on Visa from $137.00 to $140.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. BMO Capital Markets restated a “positive” rating and issued a $148.00 target price on shares of Visa in a research note on Monday, February 5th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $141.00 target price on shares of Visa in a research note on Friday, December 22nd. Finally, Mizuho restated a “buy” rating and issued a $136.00 target price on shares of Visa in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. Visa has a consensus rating of “Buy” and a consensus target price of $134.14.
Visa (NYSE:V) last released its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.10. Visa had a return on equity of 32.97% and a net margin of 38.12%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. research analysts anticipate that Visa Inc will post 4.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.67%. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, February 15th. Visa’s payout ratio is presently 32.94%.
Visa declared that its Board of Directors has authorized a share repurchase program on Thursday, February 1st that allows the company to repurchase $7.50 billion in outstanding shares. This repurchase authorization allows the credit-card processor to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
In other Visa news, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total value of $707,587.20. Following the transaction, the director now directly owns 57,368 shares in the company, valued at approximately $6,526,183.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction dated Friday, December 15th. The stock was 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 owns 76,202 shares in the company, valued at $8,661,119.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,634 shares of company stock worth $6,562,157. 0.14% of the stock is currently owned by corporate insiders.
COPYRIGHT VIOLATION NOTICE: “Wendell David Associates Inc. Has $1.57 Million Position in Visa Inc (V)” was reported by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of U.S. & international copyright & trademark law. The original version of this news story can be read at https://www.americanbankingnews.com/2018/03/12/wendell-david-associates-inc-has-1-57-million-position-in-visa-inc-v.html.
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.
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.