Cadent Capital Advisors LLC lifted its holdings in Visa Inc. (NYSE:V) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,347 shares of the credit-card processor’s stock after acquiring an additional 200 shares during the period. Cadent Capital Advisors LLC’s holdings in Visa were worth $497,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Visa in the fourth quarter valued at $3,305,348,000. Morgan Stanley grew its holdings in Visa by 20.2% during the 4th quarter. Morgan Stanley now owns 40,793,518 shares of the credit-card processor’s stock valued at $8,922,767,000 after purchasing an additional 6,857,457 shares during the last quarter. Viking Global Investors LP raised its position in Visa by 1,170.4% in the 4th quarter. Viking Global Investors LP now owns 4,085,538 shares of the credit-card processor’s stock worth $893,630,000 after purchasing an additional 3,763,943 shares during the period. Egerton Capital UK LLP lifted its stake in Visa by 98.4% in the fourth quarter. Egerton Capital UK LLP now owns 4,194,576 shares of the credit-card processor’s stock worth $917,480,000 after purchasing an additional 2,080,265 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Visa by 2.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 77,974,988 shares of the credit-card processor’s stock valued at $17,039,976,000 after buying an additional 2,064,562 shares during the period. 81.35% of the stock is currently owned by institutional investors.
In related news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of Visa stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $212.55, for a total value of $1,912,950.00. Following the completion of the transaction, the chief executive officer now owns 163,112 shares in the company, valued at approximately $34,669,455.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Tullier Kelly Mahon sold 12,735 shares of the company’s stock in a transaction dated Wednesday, June 2nd. The stock was sold at an average price of $231.51, for a total value of $2,948,279.85. In the last quarter, insiders have sold 118,611 shares of company stock worth $26,847,669. Company insiders own 0.19% of the company’s stock.
Shares of V traded up $0.26 during mid-day trading on Friday, hitting $234.21. 154,398 shares of the company traded hands, compared to its average volume of 8,625,912. The company has a market capitalization of $456.23 billion, a P/E ratio of 48.34, a PEG ratio of 2.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.12 and a quick ratio of 2.12. The firm’s 50 day simple moving average is $227.07. Visa Inc. has a 1-year low of $179.23 and a 1-year high of $237.50.
Visa (NYSE:V) last released its earnings results on Tuesday, April 27th. The credit-card processor reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.12. The company had revenue of $5.73 billion for the quarter, compared to the consensus estimate of $5.54 billion. Visa had a net margin of 49.93% and a return on equity of 33.86%. Visa’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.39 EPS. On average, sell-side analysts predict that Visa Inc. will post 5.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 1st. Shareholders of record on Friday, May 14th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, May 13th. This represents a $1.28 dividend on an annualized basis and a yield of 0.55%. Visa’s dividend payout ratio is currently 25.40%.
Visa Company Profile
Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.
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