Edgewood Management LLC Acquires 748,468 Shares of Visa Inc (V)
Edgewood Management LLC lifted its holdings in shares of Visa Inc (NYSE:V) by 5.6% in the third quarter, HoldingsChannel reports. The firm owned 14,057,598 shares of the credit-card processor’s stock after acquiring an additional 748,468 shares during the period. Visa makes up about 6.8% of Edgewood Management LLC’s portfolio, making the stock its 2nd biggest holding. Edgewood Management LLC’s holdings in Visa were worth $1,479,422,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Moneta Group Investment Advisors LLC acquired a new stake in Visa during the third quarter worth approximately $388,000. InterOcean Capital LLC boosted its position in Visa by 34.2% during the third quarter. InterOcean Capital LLC now owns 3,336 shares of the credit-card processor’s stock worth $351,000 after acquiring an additional 850 shares during the last quarter. Investment Centers of America Inc. boosted its position in Visa by 2.1% during the third quarter. Investment Centers of America Inc. now owns 22,061 shares of the credit-card processor’s stock worth $2,319,000 after acquiring an additional 457 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Visa by 3.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 6,078,615 shares of the credit-card processor’s stock worth $639,714,000 after acquiring an additional 186,136 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in Visa by 20.3% during the third quarter. Dorsey & Whitney Trust CO LLC now owns 9,825 shares of the credit-card processor’s stock worth $1,034,000 after acquiring an additional 1,657 shares during the last quarter. 81.28% of the stock is owned by institutional investors and hedge funds.
In related news, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the sale, the director now owns 57,368 shares of the company’s stock, valued at approximately $6,526,183.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction on 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. Insiders have sold a total of 58,068 shares of company stock worth $6,597,262 in the last 90 days. Company insiders own 0.14% of the company’s stock.
Visa Inc (NYSE V) opened at $118.47 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $268,480.00, a price-to-earnings ratio of 39.23, a P/E/G ratio of 1.54 and a beta of 1.03. Visa Inc has a 1-year low of $86.00 and a 1-year high of $126.88.
Visa (NYSE:V) last posted its earnings results on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.86 EPS. research analysts forecast that Visa Inc will post 4.36 earnings per share for the current fiscal year.
Visa announced that its board has initiated a stock buyback program on Thursday, February 1st that permits the company to buyback $7.50 billion in outstanding shares. This buyback authorization permits the credit-card processor to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Friday, February 16th will be issued a dividend of $0.21 per share. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, February 15th. This represents a $0.84 annualized dividend and a dividend yield of 0.71%. Visa’s payout ratio is presently 25.83%.
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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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