Mutual of America Capital Management LLC boosted its stake in Visa Inc (NYSE:V) by 0.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 290,549 shares of the credit-card processor’s stock after acquiring an additional 1,925 shares during the quarter. Visa comprises about 0.8% of Mutual of America Capital Management LLC’s holdings, making the stock its 14th largest holding. Mutual of America Capital Management LLC’s holdings in Visa were worth $46,813,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in V. S.E.E.D. Planning Group LLC purchased a new position in Visa in the 4th quarter worth approximately $1,108,000. Joseph P. Lucia & Associates LLC purchased a new position in Visa in the 4th quarter worth approximately $95,000. FinTrust Capital Advisors LLC boosted its holdings 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 acquiring an additional 3,318 shares during the period. Advanced Asset Management Advisors Inc boosted its holdings 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 acquiring an additional 110 shares during the period. Finally, J.W. Cole Advisors Inc. purchased a new position in Visa in the 4th quarter worth approximately $2,871,000. Hedge funds and other institutional investors own 81.88% of the company’s stock.
V has been the subject of several research analyst reports. KeyCorp reduced their target price on Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a research note on Monday, March 23rd. Guggenheim cut Visa from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 22nd. Nomura Securities reduced their target price on Visa from $233.00 to $214.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Morgan Stanley increased their target price on Visa from $183.00 to $196.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Royal Bank of Canada increased their target price on Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Five equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $202.75.
Visa (NYSE:V) last issued its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The firm had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the company earned $1.31 earnings per share. Equities analysts forecast that Visa Inc will post 4.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio (DPR) is 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $174.04, for a total transaction of $1,218,280.00. Following the transaction, the chief executive officer now directly owns 145,090 shares of the company’s stock, valued at $25,251,463.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 21,000 shares of company stock worth $3,620,540 over the last three months. Corporate 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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