Latest Stocks: Visa Inc (V) Stake Lowered by Northern Capital Management LLC

Latest Stocks: Visa Inc (V) Stake Lowered by Northern Capital Management LLC

Northern Capital Management LLC cut its position in Visa Inc (NYSE:V) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,968 shares of the credit-card processor’s stock after selling 212 shares during the period. Northern Capital Management LLC’s holdings in Visa were worth $708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL purchased a new position in Visa during the fourth quarter worth approximately $1,104,000. Capital International Inc. CA increased its position in Visa by 32.1% in the fourth quarter. Capital International Inc. CA now owns 157,800 shares of the credit-card processor’s stock worth $12,312,000 after buying an additional 38,300 shares in the last quarter. Aviva PLC increased its position in Visa by 22.7% in the fourth quarter. Aviva PLC now owns 1,479,984 shares of the credit-card processor’s stock worth $115,690,000 after buying an additional 273,449 shares in the last quarter. Gluskin Sheff & Assoc Inc. increased its position in Visa by 20.1% in the third quarter. Gluskin Sheff & Assoc Inc. now owns 351,460 shares of the credit-card processor’s stock worth $28,430,000 after buying an additional 58,860 shares in the last quarter. Finally, West Oak Capital LLC increased its position in Visa by 20.0% in the first quarter. West Oak Capital LLC now owns 3,589 shares of the credit-card processor’s stock worth $319,000 after buying an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Shares of Visa Inc (NYSE V) opened at 96.55 on Tuesday. Visa Inc has a 52 week low of $73.25 and a 52 week high of $96.59. The stock has a 50 day moving average price of $92.69 and a 200-day moving average price of $86.35. The firm has a market capitalization of $222.69 billion, a price-to-earnings ratio of 48.18 and a beta of 1.00.

Visa (NYSE:V) last issued its earnings results on Thursday, April 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.48 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. On average, equities research analysts forecast that Visa Inc will post $3.37 earnings per share for the current year.

Several equities analysts have commented on the company. Citigroup Inc reiterated a “buy” rating and set a $100.00 price target on shares of Visa in a report on Thursday, May 25th. Vetr upgraded Visa from a “hold” rating to a “buy” rating and set a $93.85 price target on the stock in a report on Monday, March 20th. Zacks Investment Research upgraded Visa from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, March 1st. Sanford C. Bernstein reiterated an “outperform” rating and set a $104.00 price target on shares of Visa in a report on Saturday, March 11th. Finally, Credit Suisse Group AG reiterated a “hold” rating on shares of Visa in a report on Wednesday, March 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $95.59. In other news, Vice Chairman Ellen Richey sold 31,260 shares of the 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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