Sompo Japan Nipponkoa Asset Management CO. LTD. raised its position in shares of Visa Inc (NYSE:V) by 21.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,146 shares of the credit-card processor’s stock after purchasing an additional 16,030 shares during the period. Visa comprises 3.9% of Sompo Japan Nipponkoa Asset Management CO. LTD.’s portfolio, making the stock its 2nd biggest position. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Visa were worth $14,847,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Stephenson National Bank & Trust bought a new position in shares of Visa in the 4th quarter worth $28,000. AlphaMark Advisors LLC raised its position in shares of Visa by 57.8% in the 1st quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 63 shares in the last quarter. Laffer Investments bought a new position in shares of Visa in the 4th quarter worth $31,000. Accurate Investment Solutions Inc. raised its position in shares of Visa by 117.1% in the 1st quarter. Accurate Investment Solutions Inc. now owns 241 shares of the credit-card processor’s stock worth $39,000 after acquiring an additional 130 shares in the last quarter. Finally, Sageworth Trust Co bought a new position in shares of Visa in the 4th quarter worth $40,000. 81.88% of the stock is owned by institutional investors and hedge funds.
V has been the subject of several recent research reports. Cantor Fitzgerald boosted their price target on Visa from $200.00 to $228.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Barclays reduced their target price on Visa from $230.00 to $209.00 and set an “overweight” rating on the stock in a research report on Thursday, March 26th. Guggenheim lowered Visa from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 22nd. Zacks Investment Research raised Visa from a “sell” rating to a “hold” rating and set a $181.00 target price on the stock in a research report on Sunday, May 3rd. Finally, Robert W. Baird upped their target price on Visa from $166.00 to $175.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Five analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $202.75.
Visa (NYSE:V) last issued its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. Visa had a return on equity of 43.45% and a net margin of 52.26%. The firm had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Visa Inc will post 4.99 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. Visa’s payout ratio is 22.06%.
In other news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $174.04, for a total value of $1,218,280.00. Following the sale, the chief executive officer now owns 145,090 shares in the company, valued at $25,251,463.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 21,000 shares of company stock worth $3,620,540 in the last 90 days. Company 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.
Read More: Penny Stocks, What You Need To Know
Want to see what other hedge funds are holding V? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Visa Inc (NYSE:V).
Receive News & Ratings for Visa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Visa and related companies with MarketBeat.com's FREE daily email newsletter.