Fiduciary Group LLC increased its stake in Visa Inc (NYSE:V) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,855 shares of the credit-card processor’s stock after purchasing an additional 1,847 shares during the quarter. Visa makes up approximately 1.3% of Fiduciary Group LLC’s investment portfolio, making the stock its 23rd biggest position. Fiduciary Group LLC’s holdings in Visa were worth $6,583,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in V. S.E.E.D. Planning Group LLC bought a new position in Visa in the 4th quarter worth $1,108,000. Joseph P. Lucia & Associates LLC purchased a new stake in Visa in the 4th quarter worth $95,000. FinTrust Capital Advisors LLC increased its stake in Visa by 175.6% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,429 shares of the credit-card processor’s stock worth $269,000 after buying an additional 3,318 shares in the last quarter. Advanced Asset Management Advisors Inc increased its stake in Visa by 0.6% in the 4th quarter. Advanced Asset Management Advisors Inc now owns 18,665 shares of the credit-card processor’s stock worth $3,507,000 after buying an additional 110 shares in the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new stake in Visa in the 4th quarter worth $2,871,000. 81.88% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. Oppenheimer increased their price target on Visa from $175.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. BMO Capital Markets cut their price target on Visa from $234.00 to $213.00 and set an “outperform” rating for the company in a research note on Monday, May 4th. Morgan Stanley raised their price objective on Visa from $183.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Royal Bank of Canada raised their price objective on Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Nomura Securities cut their price objective on Visa from $233.00 to $214.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $202.75.
Visa (NYSE:V) last posted its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.04. Visa had a net margin of 52.26% and a return on equity of 43.45%. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Visa Inc will post 4.99 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio is presently 22.06%.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $161.40, for a total transaction of $1,129,800.00. Following the transaction, the chief executive officer now directly owns 142,090 shares of the company’s stock, valued at $22,933,326. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 21,000 shares of company stock valued at $3,620,540 in the last ninety days. Insiders own 0.19% of the company’s stock.
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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