Sandler Capital Management raised its position in shares of Visa Inc (NYSE:V) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 267,327 shares of the credit-card processor’s stock after buying an additional 32,330 shares during the period. Visa comprises about 3.0% of Sandler Capital Management’s holdings, making the stock its 2nd largest holding. Sandler Capital Management’s holdings in Visa were worth $35,407,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in V. BlackRock Inc. boosted its holdings in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 121,549,085 shares of the credit-card processor’s stock valued at $16,099,178,000 after purchasing an additional 1,535,089 shares during the period. FMR LLC boosted its holdings in Visa by 2.9% in the second quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after purchasing an additional 2,398,540 shares during the period. Fisher Asset Management LLC boosted its holdings in Visa by 3.8% in the second quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock valued at $2,342,483,000 after purchasing an additional 639,522 shares during the period. Edgewood Management LLC boosted its holdings in Visa by 2.5% in the second quarter. Edgewood Management LLC now owns 15,192,387 shares of the credit-card processor’s stock valued at $2,012,232,000 after purchasing an additional 365,072 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Visa by 10.9% in the second quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock valued at $1,469,941,000 after purchasing an additional 1,091,838 shares during the period. Institutional investors and hedge funds own 80.38% of the company’s stock.
Visa stock opened at $143.93 on Friday. Visa Inc has a 1-year low of $106.60 and a 1-year high of $151.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.69 and a current ratio of 1.61. The firm has a market capitalization of $294.52 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. Visa had a return on equity of 38.00% and a net margin of 49.98%. The business had revenue of $5.43 billion for the quarter, compared to analysts’ expectations of $5.44 billion. As a group, analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Friday, November 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. This is a boost from Visa’s previous quarterly dividend of $0.21. Visa’s payout ratio is 18.22%.
In other news, EVP William M. Sheedy sold 99,636 shares of Visa stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the sale, the executive vice president now owns 296,925 shares in the company, valued at $41,355,714. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.
V has been the subject of a number of recent research reports. Oppenheimer lifted their target price on Visa from $143.00 to $154.00 and gave the company an “outperform” rating in a report on Tuesday, July 17th. Wolfe Research initiated coverage on Visa in a report on Tuesday, July 17th. They issued an “outperform” rating for the company. Bank of America lifted their target price on Visa from $146.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, July 17th. Morgan Stanley lifted their target price on Visa from $142.00 to $165.00 and gave the company a “$140.13” rating in a report on Thursday, July 19th. Finally, Raymond James reiterated an “outperform” rating and issued a $165.00 target price on shares of Visa in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. Visa presently has an average rating of “Buy” and an average target price of $155.47.
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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