Baltimore Washington Financial Advisors Inc. lifted its position in Visa Inc (NYSE:V) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 84,290 shares of the credit-card processor’s stock after acquiring an additional 4,718 shares during the period. Visa comprises approximately 2.0% of Baltimore Washington Financial Advisors Inc.’s holdings, making the stock its 14th largest position. Baltimore Washington Financial Advisors Inc.’s holdings in Visa were worth $8,871,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in V. Vanguard Group Inc. grew its position in Visa by 2.1% in the second quarter. Vanguard Group Inc. now owns 127,020,401 shares of the credit-card processor’s stock worth $11,911,973,000 after acquiring an additional 2,628,148 shares in the last quarter. BlackRock Inc. grew its position in Visa by 1.3% in the second quarter. BlackRock Inc. now owns 114,649,667 shares of the credit-card processor’s stock worth $10,751,846,000 after acquiring an additional 1,440,034 shares in the last quarter. Fisher Asset Management LLC grew its position in Visa by 3.0% in the second quarter. Fisher Asset Management LLC now owns 15,616,151 shares of the credit-card processor’s stock worth $1,464,483,000 after acquiring an additional 452,183 shares in the last quarter. Capital Research Global Investors grew its position in Visa by 20.3% in the second quarter. Capital Research Global Investors now owns 11,394,893 shares of the credit-card processor’s stock worth $1,068,613,000 after acquiring an additional 1,919,732 shares in the last quarter. Finally, Polen Capital Management LLC grew its position in Visa by 7.7% in the second quarter. Polen Capital Management LLC now owns 10,425,812 shares of the credit-card processor’s stock worth $977,733,000 after acquiring an additional 745,312 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.
In other Visa news, EVP Tullier Kelly Mahon sold 49,702 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the sale, the executive vice president now owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP James H. Hoffmeister sold 2,146 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total transaction of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares in the company, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,068 shares of company stock worth $6,597,262. 0.14% of the stock is owned by insiders.
Visa (NYSE:V) last posted its earnings results on Wednesday, October 25th. The credit-card processor reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.05. Visa had a net margin of 36.49% and a return on equity of 31.80%. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. sell-side analysts forecast that Visa Inc will post 4.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 5th. Stockholders of record on Friday, November 17th were issued a $0.195 dividend. This is a positive change from Visa’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $0.78 annualized dividend and a dividend yield of 0.69%. Visa’s dividend payout ratio is presently 27.86%.
Several analysts have commented on V shares. Vetr downgraded shares of Visa from a “hold” rating to a “sell” rating and set a $100.88 target price for the company. in a research report on Tuesday, August 22nd. Robert W. Baird restated a “buy” rating on shares of Visa in a research note on Thursday, August 24th. UBS restated an “overweight” rating on shares of Visa in a research note on Thursday, August 24th. KeyCorp restated a “buy” rating and issued a $110.00 price objective on shares of Visa in a research note on Friday, August 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Visa in a research note on Tuesday, September 12th. Two analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $117.23.
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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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