Signet Financial Management LLC Raises Stake in Visa Inc (NYSE:V)
Signet Financial Management LLC boosted its position in shares of Visa Inc (NYSE:V) by 711.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,732 shares of the credit-card processor’s stock after acquiring an additional 13,793 shares during the period. Signet Financial Management LLC’s holdings in Visa were worth $2,890,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in Visa by 0.6% in the fourth quarter. Advisors Asset Management Inc. now owns 456,714 shares of the credit-card processor’s stock valued at $60,259,000 after buying an additional 2,895 shares during the last quarter. CNB Bank boosted its stake in Visa by 54.1% during the 4th quarter. CNB Bank now owns 986 shares of the credit-card processor’s stock worth $130,000 after purchasing an additional 346 shares during the period. Stevens Capital Management LP acquired a new stake in Visa during the 4th quarter worth $14,410,000. AKO Capital LLP boosted its stake in Visa by 31.6% during the 4th quarter. AKO Capital LLP now owns 900,564 shares of the credit-card processor’s stock worth $118,820,000 after purchasing an additional 216,151 shares during the period. Finally, Swedbank grew its position in Visa by 26.3% during the 4th quarter. Swedbank now owns 4,890,752 shares of the credit-card processor’s stock worth $640,395,000 after purchasing an additional 1,019,755 shares during the last quarter. 81.20% of the stock is currently owned by institutional investors.
In other news, Director Denise M. Morrison bought 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were bought at an average cost of $171.13 per share, for a total transaction of $171,130.00. Following the completion of the transaction, the director now owns 3,223 shares in the company, valued at $551,551.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd Carney sold 3,500 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $182.73, for a total value of $639,555.00. Following the completion of the sale, the director now directly owns 3,452 shares in the company, valued at approximately $630,783.96. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.
Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.04. Visa had a return on equity of 41.04% and a net margin of 53.43%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $1.20 earnings per share. Visa’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities research analysts predict that Visa Inc will post 5.4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 16th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. Visa’s dividend payout ratio is presently 21.69%.
A number of equities research analysts have recently commented on the stock. Guggenheim upped their target price on shares of Visa from $178.00 to $190.00 and gave the company a “positive” rating in a report on Wednesday, July 24th. Citigroup lifted their target price on Visa from $185.00 to $206.00 and gave the company a “buy” rating in a research note on Monday. Deutsche Bank boosted their target price on Visa from $177.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 11th. SunTrust Banks boosted their target price on Visa to $205.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Wedbush restated an “outperform” rating on shares of Visa in a research note on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and an average target price of $196.57.
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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