Leavell Investment Management Inc. increased its stake in shares of Visa Inc (NYSE:V) by 1.0% during the 4th quarter, HoldingsChannel reports. The fund owned 70,459 shares of the credit-card processor’s stock after acquiring an additional 700 shares during the period. Visa comprises approximately 0.9% of Leavell Investment Management Inc.’s investment portfolio, making the stock its 25th largest position. Leavell Investment Management Inc.’s holdings in Visa were worth $8,034,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Heritage Trust Co lifted its stake in shares of Visa by 51.4% in the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock valued at $424,000 after buying an additional 1,535 shares in the last quarter. Aviva PLC lifted its stake in shares of Visa by 0.8% in the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock valued at $132,432,000 after buying an additional 11,662 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Visa by 12.2% in the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock valued at $892,000 after buying an additional 1,016 shares in the last quarter. Fundsmith LLP lifted its stake in shares of Visa by 5.3% in the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock valued at $489,309,000 after buying an additional 262,930 shares in the last quarter. Finally, Beach Point Capital Management LP bought a new position in shares of Visa in the third quarter valued at $5,736,000. 80.70% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Tullier Kelly Mahon sold 49,702 shares of the firm’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the completion of the sale, the executive vice president now owns 76,202 shares in the company, valued at $8,661,119.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lynne Biggar sold 1,712 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $120.00, for a total transaction of $205,440.00. The disclosure for this sale can be found here. Insiders have sold 57,634 shares of company stock valued at $6,562,157 in the last 90 days. 0.14% of the stock is currently owned by corporate insiders.
Visa Inc (V) opened at $121.06 on Wednesday. Visa Inc has a 12-month low of $87.85 and a 12-month high of $126.88. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $273,220.00, a PE ratio of 47.47, a P/E/G ratio of 1.60 and a beta of 1.00.
Visa (NYSE:V) last posted 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. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business had revenue of $4.86 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. research analysts predict that Visa Inc will post 4.36 EPS for the current fiscal year.
Visa announced that its board has initiated a share repurchase program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Thursday, February 15th. This is an increase from Visa’s previous quarterly dividend of $0.20. Visa’s dividend payout ratio (DPR) is 32.94%.
V has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Tuesday, December 26th. Credit Suisse Group set a $129.00 price objective on shares of Visa and gave the company a “buy” rating in a research note on Monday, January 8th. Vetr lowered shares of Visa from a “buy” rating to a “hold” rating and set a $121.05 price objective on the stock. in a research note on Monday, January 8th. Cowen reaffirmed a “buy” rating and issued a $129.00 price objective on shares of Visa in a research note on Friday, January 12th. Finally, Citigroup reaffirmed a “buy” rating and issued a $145.00 price objective (up from $136.00) on shares of Visa in a research note on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $134.14.
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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