Forbes J M & Co. LLP Increases Position in Visa Inc (NYSE:V)

Forbes J M & Co. LLP increased its holdings in Visa Inc (NYSE:V) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,408 shares of the credit-card processor’s stock after purchasing an additional 2,774 shares during the quarter. Visa makes up approximately 3.6% of Forbes J M & Co. LLP’s holdings, making the stock its 7th largest holding. Forbes J M & Co. LLP’s holdings in Visa were worth $16,178,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of V. S.E.E.D. Planning Group LLC purchased a new position in shares of Visa during the fourth quarter valued at approximately $1,108,000. Confluence Wealth Management LLC raised its holdings in Visa by 1.4% in the 4th quarter. Confluence Wealth Management LLC now owns 6,881 shares of the credit-card processor’s stock worth $1,293,000 after acquiring an additional 98 shares during the last quarter. Alpine Woods Capital Investors LLC purchased a new position in Visa in the 4th quarter worth approximately $775,000. Nicollet Investment Management Inc. raised its holdings in Visa by 1.3% in the 4th quarter. Nicollet Investment Management Inc. now owns 41,400 shares of the credit-card processor’s stock worth $7,779,000 after acquiring an additional 523 shares during the last quarter. Finally, Fairhaven Wealth Management LLC raised its holdings in Visa by 1.9% in the 4th quarter. Fairhaven Wealth Management LLC now owns 9,502 shares of the credit-card processor’s stock worth $1,785,000 after acquiring an additional 179 shares during the last quarter. 81.59% of the stock is currently owned by institutional investors.

V stock traded down $2.41 on Friday, hitting $191.50. The company’s stock had a trading volume of 565,709 shares, compared to its average volume of 8,158,578. The firm has a 50 day moving average of $188.81 and a two-hundred day moving average of $185.44. Visa Inc has a 1 year low of $133.93 and a 1 year high of $214.17. The stock has a market cap of $376.18 billion, a price-to-earnings ratio of 34.65, a price-to-earnings-growth ratio of 3.07 and a beta of 0.93. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

Visa (NYSE:V) last announced its quarterly earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.75 billion. Visa had a net margin of 52.26% and a return on equity of 43.45%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. As a group, equities analysts forecast that Visa Inc will post 4.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s dividend payout ratio is presently 22.06%.

In related news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the stock in a transaction dated Monday, March 30th. The shares were sold at an average price of $161.40, for a total value of $1,129,800.00. Following the sale, the chief executive officer now directly owns 142,090 shares of the company’s stock, valued at approximately $22,933,326. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Ryan Mcinerney sold 26,150 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The disclosure for this sale can be found here. Insiders sold a total of 50,429 shares of company stock valued at $9,443,584 in the last quarter. Insiders own 0.19% of the company’s stock.

V has been the subject of a number of recent analyst reports. Guggenheim lowered shares of Visa from a “buy” rating to a “neutral” rating in a report on Wednesday, April 22nd. Stephens decreased their target price on shares of Visa from $228.00 to $192.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Barclays cut their price objective on shares of Visa from $230.00 to $209.00 and set an “overweight” rating for the company in a research report on Thursday, March 26th. KeyCorp cut their price objective on shares of Visa from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Monday, March 23rd. Finally, Wells Fargo & Co dropped their target price on shares of Visa from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Tuesday, March 31st. Five equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $205.70.

Visa Profile

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.

Further Reading: Gross Domestic Product (GDP)

Institutional Ownership by Quarter for Visa (NYSE:V)

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