Triangle Securities Wealth Management reduced its holdings in Visa Inc. (NYSE:V – Get Rating) by 3.4% during the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 12,927 shares of the credit card processor after selling 449 shares during the quarter. Visa represents about 1.0% of Triangle Securities Wealth Management’s investment portfolio, making the stock its 27th largest holding. Triangle Securities Wealth Management’s holdings in Visa were worth $2,867,000 at the end of the last quarter.
A number of other institutional investors also changed their holdings to V. Norges Bank bought a new stake in Visa in the fourth quarter worth about $2,740,577,000. Lone Pine Capital LLC bought a new position in Visa in Q4 worth approximately $1,047,495,000. GQG Partners LLC increased its stake in Visa by 46.2% in the 4th quarter. GQG Partners LLC now owns 11,289,146 shares of the credit card processor worth $2,446,122,000 after buying 3,567,771 additional shares in the last quarter. Bank of Montreal Can increased its stake in Visa by 51.2% in the 4th quarter. Bank of Montreal Can now owns 9,393,795 shares of the credit card processor worth $2,090,120,000 after buying an additional 3,179,759 shares last quarter. Finally, Brown Advisory Inc. increased its stake in Visa by 51.7% in the 4th quarter. Brown Advisory Inc. now owns 9,232,310 shares of the credit card processor worth $2,000,734,000 after buying 3,145,363 additional shares in the last quarter. Hedge funds and other institutional investors hold 80.77% of the company’s shares.
V opened at $205.51 on Friday. The company has a 50-day moving average price of $204.67 and a 200-day moving average price of $212.18. Visa Inc. has a 12-month low of $185.91 and a 12-month high of $252.67. The company has a debt ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The company has a market capitalization of $390.73 billion, a P/E ratio of 32.31, a price-to-earnings growth ratio of 1.65 and a beta of 0.90.
Visa (NYSE:V – Get Rating) last released its results on Tuesday, April 26. The credit card processor reported earnings per share of $1.79 for the quarter, beating the consensus estimate of $1.65 by $0.14. Visa had a return on equity of 42.89% and a net margin of 51.10%. The company posted revenue of $7.19 billion in the quarter, versus analyst estimates of $6.82 billion. During the same period of the previous year, the company achieved EPS of $1.38. The company’s revenue for the quarter increased 25.5% year over year. As a group, analysts expect Visa Inc. to post earnings per share of 7.16 for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1. Shareholders of record on Friday, May 13 received a dividend of $0.375 per share. This represents a dividend of $1.50 on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Thursday, May 12. Visa’s dividend payout ratio is currently 23.58%.
V has been the subject of a number of analyst reports. Citigroup lowered its price target on Visa from $285.00 to $265.00 in a Monday, April 25 research note. Cowen lowered his price target on Visa from $276.00 to $254.00 in a Wednesday, April 27 research note. Evercore ISI raised its target price on Visa from $304.00 to $310.00 and gave the company an “outperform” rating in a Wednesday, April 27 research note. Goldman Sachs Group assumed Visa coverage in a Tuesday, May 17, research note. They set a “buy” rating and a target price of $282.00 on the stock. Finally, StockNews.com upgraded Visa from a “hold” rating to a “buy” rating in a Thursday, April 28 research note. Five analysts gave the stock a hold rating and twenty-one gave the stock a buy rating. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $267.44.
In other news, CEO Alfred F. Kelly, Jr. sold 9,000 shares in a trade Thursday, March 31. The stock was sold at an average price of $223.91, for a total transaction of $2,015,190.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Additionally, Chairman Ryan Mcinerney sold 6,467 shares in a trade on Friday, April 1. The stock was sold at an average price of $223.65, for a total value of $1,446,344.55. The disclosure of this sale can be found here. Insiders sold 39,933 shares of the company worth $8,745,055 during the last quarter. Insiders of the company own 0.21% of the shares of the company.
About Visa (Get an evaluation)
Visa Inc operates as a worldwide payment technology company. The company facilitates digital payments between consumers, merchants, financial institutions, businesses, strategic partners and government entities. It operates VisaNet, a transaction processing network that enables the authorization, clearing and settlement of payment transactions.
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