TPI Fund Managers Ltd grew its stake in Visa Inc (NYSE:V) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,367 shares of the credit-card processor’s stock after acquiring an additional 3,423 shares during the quarter. Visa comprises approximately 5.1% of TPI Fund Managers Ltd’s portfolio, making the stock its 6th biggest holding. TPI Fund Managers Ltd’s holdings in Visa were worth $16,816,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Stephenson National Bank & Trust purchased a new stake in shares of Visa in the fourth quarter valued at $28,000. AlphaMark Advisors LLC lifted its position in Visa by 57.8% during the first quarter. AlphaMark Advisors LLC now owns 172 shares of the credit-card processor’s stock worth $28,000 after buying an additional 63 shares during the period. Laffer Investments purchased a new position in Visa during the fourth quarter worth about $31,000. Accurate Investment Solutions Inc. lifted its position in Visa by 117.1% during the first quarter. Accurate Investment Solutions Inc. now owns 241 shares of the credit-card processor’s stock worth $39,000 after buying an additional 130 shares during the period. Finally, Sageworth Trust Co purchased a new position in Visa during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 81.88% of the company’s stock.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $161.40, for a total transaction of $1,129,800.00. Following the completion of the sale, the chief executive officer now owns 142,090 shares in the company, valued at approximately $22,933,326. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have sold 21,000 shares of company stock valued at $3,620,540. 0.19% of the stock is owned by insiders.
Visa (NYSE:V) last posted its earnings results on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. During the same quarter last year, the firm earned $1.31 earnings per share. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that Visa Inc will post 4.99 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 0.63%. Visa’s dividend payout ratio (DPR) is presently 22.06%.
Several research firms recently weighed in on V. UBS Group reduced their target price on Visa from $190.00 to $188.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. 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. William Blair reiterated an “outperform” rating on shares of Visa in a research report on Wednesday, February 12th. Raymond James increased their target price on Visa from $188.00 to $204.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Royal Bank of Canada increased their target price on Visa from $195.00 to $212.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Visa currently has an average rating of “Buy” and a consensus target price of $202.75.
Visa Company 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.
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