BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Visa Inc (NYSE:V) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 214,173 shares of the credit-card processor’s stock after selling 49,279 shares during the quarter. Visa makes up about 2.0% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 6th biggest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Visa were worth $34,508,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Visa by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 27,228,424 shares of the credit-card processor’s stock valued at $5,106,530,000 after acquiring an additional 733,712 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Visa by 0.6% in the 1st quarter. Fisher Asset Management LLC now owns 20,319,088 shares of the credit-card processor’s stock worth $3,273,812,000 after purchasing an additional 116,273 shares during the last quarter. Norges Bank bought a new stake in Visa during the fourth quarter worth approximately $3,303,463,000. Loomis Sayles & Co. L P grew its holdings in Visa by 4.8% during the fourth quarter. Loomis Sayles & Co. L P now owns 16,638,866 shares of the credit-card processor’s stock valued at $3,126,443,000 after purchasing an additional 767,660 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its position in shares of Visa by 2.8% in the fourth quarter. Magellan Asset Management Ltd now owns 14,517,335 shares of the credit-card processor’s stock valued at $2,727,807,000 after purchasing an additional 394,660 shares during the period. Institutional investors and hedge funds own 81.88% of the company’s stock.
A number of research firms recently issued reports on V. Raymond James raised their target price on shares of Visa from $188.00 to $204.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Credit Suisse Group dropped their price objective on Visa from $223.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Zacks Investment Research raised Visa from a “sell” rating to a “hold” rating and set a $181.00 price objective for the company in a research report on Sunday, May 3rd. Barclays lowered their target price on Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a report on Thursday, March 26th. Finally, Cowen upped their price target on Visa from $189.00 to $196.00 and gave the stock an “outperform” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and an average price target of $202.75.
Visa (NYSE:V) last posted 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. Visa had a net margin of 52.26% and a return on equity of 43.45%. The business had revenue of $5.85 billion for the quarter, compared to analyst estimates of $5.75 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Visa Inc will post 4.99 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, May 13th. Visa’s payout ratio is 22.06%.
In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the completion of the sale, the chief executive officer now directly owns 139,090 shares of the company’s stock, valued at approximately $25,283,780.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 21,000 shares of company stock valued at $3,620,540 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.
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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