Sontag Advisory LLC raised its holdings in Visa Inc (NYSE:V) by 289.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,271 shares of the credit-card processor’s stock after acquiring an additional 35,887 shares during the period. Sontag Advisory LLC’s holdings in Visa were worth $7,777,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Peninsula Wealth LLC boosted its position in shares of Visa by 1.7% during the 1st quarter. Peninsula Wealth LLC now owns 15,050 shares of the credit-card processor’s stock worth $2,425,000 after purchasing an additional 251 shares during the period. Private Advisor Group LLC raised its holdings in shares of Visa by 11.4% in the 1st quarter. Private Advisor Group LLC now owns 165,791 shares of the credit-card processor’s stock valued at $26,713,000 after purchasing an additional 16,936 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Visa by 5,287.5% in the 1st quarter. Cidel Asset Management Inc. now owns 70,091 shares of the credit-card processor’s stock valued at $11,293,000 after purchasing an additional 68,790 shares in the last quarter. Meristem Family Wealth LLC raised its stake in Visa by 6.7% during the 1st quarter. Meristem Family Wealth LLC now owns 11,801 shares of the credit-card processor’s stock worth $1,901,000 after acquiring an additional 743 shares in the last quarter. Finally, Oxford Financial Group Ltd. acquired a new stake in Visa during the 1st quarter worth $238,000. Institutional investors own 81.59% of the company’s stock.
In related news, President Ryan Mcinerney sold 26,150 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $191.87, for a total transaction of $5,017,400.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $181.78, for a total transaction of $1,272,460.00. Following the transaction, the chief executive officer now directly owns 139,090 shares of the company’s stock, valued at approximately $25,283,780.20. The disclosure for this sale can be found here. In the last three months, insiders sold 40,150 shares of company stock valued at $7,419,661. Company insiders own 0.19% of the company’s stock.
Visa (NYSE:V) last posted its quarterly earnings data on Thursday, April 30th. The credit-card processor reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The business had revenue of $5.85 billion during the quarter, compared to analyst estimates of $5.75 billion. Visa had a net margin of 52.26% and a return on equity of 43.45%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 earnings per share. As a group, equities analysts forecast that Visa Inc will post 4.99 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Wednesday, May 13th. Visa’s dividend payout ratio is presently 22.06%.
Several equities research analysts recently commented on V shares. Credit Suisse Group cut their price target on shares of Visa from $223.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Royal Bank of Canada lifted their price objective on shares of Visa from $195.00 to $212.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Nomura Securities dropped their price objective on shares of Visa from $233.00 to $214.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Zacks Investment Research upgraded shares of Visa from a “sell” rating to a “hold” rating and set a $181.00 price objective on the stock in a research note on Sunday, May 3rd. Finally, Raymond James lifted their price objective on shares of Visa from $188.00 to $204.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Five investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $203.46.
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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