Northeast Investment Management Sells 10,850 Shares of Visa Inc. (V)

Northeast Investment Management decreased its stake in Visa Inc. (NYSE:V) by 2.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 407,887 shares of the credit-card processor’s stock after selling 10,850 shares during the period. Visa accounts for about 3.4% of Northeast Investment Management’s holdings, making the stock its 2nd largest position. Northeast Investment Management’s holdings in Visa were worth $36,249,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of V. State Street Corp boosted its position in shares of Visa by 2.6% in the fourth quarter. State Street Corp now owns 82,748,981 shares of the credit-card processor’s stock valued at $6,456,063,000 after buying an additional 2,111,820 shares during the last quarter. Norges Bank bought a new position in shares of Visa during the fourth quarter valued at approximately $1,335,803,000. Fisher Asset Management LLC boosted its position in shares of Visa by 1.4% in the first quarter. Fisher Asset Management LLC now owns 15,163,968 shares of the credit-card processor’s stock valued at $1,347,622,000 after buying an additional 206,225 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in shares of Visa by 3.9% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,002,819 shares of the credit-card processor’s stock valued at $1,092,500,000 after buying an additional 531,327 shares during the last quarter. Finally, Edgewood Management LLC boosted its position in shares of Visa by 1.0% in the fourth quarter. Edgewood Management LLC now owns 11,880,171 shares of the credit-card processor’s stock valued at $926,891,000 after buying an additional 119,292 shares during the last quarter. 83.43% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Visa (NYSE:V)

Visa Inc. (V) opened at 94.54 on Thursday. Visa Inc. has a 1-year low of $73.25 and a 1-year high of $96.60. The firm has a market cap of $218.05 billion, a price-to-earnings ratio of 47.18 and a beta of 0.94. The company has a 50-day moving average of $93.91 and a 200-day moving average of $87.59.

Visa (NYSE:V) last announced its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. The business had revenue of $4.48 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Visa had a return on equity of 29.14% and a net margin of 28.78%. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. Analysts predict that Visa Inc. will post $3.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th were given a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.66 annualized dividend and a yield of 0.70%. Visa’s payout ratio is 33.00%.

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Several equities research analysts recently weighed in on V shares. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 price objective on the stock. in a research note on Monday, June 5th. CIBC increased their price objective on shares of Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. BidaskClub lowered shares of Visa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research lowered shares of Visa from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $104.00 price objective on shares of Visa in a research note on Saturday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Visa has an average rating of “Buy” and a consensus price target of $95.73.

In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Visa Company Profile

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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