Crestwood Advisors Group LLC Acquires 10,669 Shares of Visa Inc (V)

Crestwood Advisors Group LLC raised its stake in Visa Inc (NYSE:V) by 5.8% during the first quarter, Holdings Channel reports. The fund owned 194,052 shares of the credit-card processor’s stock after buying an additional 10,669 shares during the period. Visa accounts for approximately 1.7% of Crestwood Advisors Group LLC’s holdings, making the stock its 25th largest position. Crestwood Advisors Group LLC’s holdings in Visa were worth $17,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Visa during the fourth quarter valued at about $1,335,803,000. Viking Global Investors LP boosted its position in shares of Visa by 739.1% in the fourth quarter. Viking Global Investors LP now owns 4,846,485 shares of the credit-card processor’s stock worth $378,123,000 after buying an additional 4,268,933 shares in the last quarter. Lone Pine Capital LLC boosted its position in shares of Visa by 180.3% in the fourth quarter. Lone Pine Capital LLC now owns 6,551,477 shares of the credit-card processor’s stock worth $511,146,000 after buying an additional 4,213,802 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Visa during the fourth quarter worth $312,745,000. Finally, Asset Management One Co. Ltd. boosted its position in shares of Visa by 719.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 3,445,162 shares of the credit-card processor’s stock worth $268,897,000 after buying an additional 3,024,860 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Institutional Ownership by Quarter for Visa (NYSE:V)

Visa Inc (V) opened at 96.09 on Friday. Visa Inc has a 1-year low of $73.25 and a 1-year high of $96.60. The firm has a market capitalization of $221.63 billion, a price-to-earnings ratio of 47.95 and a beta of 1.00. The stock has a 50 day moving average price of $93.04 and a 200 day moving average price of $86.53.

Visa (NYSE:V) last issued its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.07. Visa had a return on equity of 26.48% and a net margin of 38.30%. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the previous year, the company posted $0.68 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. Analysts predict that Visa Inc will post $3.37 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Shareholders of record on Friday, May 19th were paid a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.69%. Visa’s dividend payout ratio (DPR) is currently 26.09%.

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V has been the subject of a number of research analyst reports. Vetr cut Visa from a “hold” rating to a “sell” rating and set a $92.84 price target for the company. in a research report on Monday. CIBC raised their price target on Visa from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Sanford C. Bernstein restated an “outperform” rating and issued a $104.00 price target on shares of Visa in a research report on Saturday, March 11th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $103.00 price target on shares of Visa in a research report on Tuesday, March 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $95.73.

In other Visa news, Vice Chairman Ellen Richey sold 31,260 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $91.94, for a total value of $2,874,044.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

About Visa

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “V”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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