Beach Point Capital Management LP Grows Position in Visa Inc (NYSE:V)

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Beach Point Capital Management LP raised its position in shares of Visa Inc (NYSE:V) by 3.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 148,730 shares of the credit-card processor’s stock after acquiring an additional 5,000 shares during the period. Visa makes up about 4.9% of Beach Point Capital Management LP’s investment portfolio, making the stock its 8th largest position. Beach Point Capital Management LP’s holdings in Visa were worth $22,323,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of V. Candriam Luxembourg S.C.A. raised its stake in shares of Visa by 2.5% during the third quarter. Candriam Luxembourg S.C.A. now owns 486,741 shares of the credit-card processor’s stock worth $73,055,000 after purchasing an additional 11,870 shares during the last quarter. Dakota Wealth Management grew its holdings in Visa by 23.8% in the third quarter. Dakota Wealth Management now owns 37,772 shares of the credit-card processor’s stock valued at $5,669,000 after purchasing an additional 7,258 shares during the last quarter. Segment Wealth Management LLC boosted its stake in shares of Visa by 1.2% during the third quarter. Segment Wealth Management LLC now owns 35,538 shares of the credit-card processor’s stock valued at $5,334,000 after acquiring an additional 430 shares during the last quarter. KCM Investment Advisors LLC boosted its stake in shares of Visa by 100.8% during the third quarter. KCM Investment Advisors LLC now owns 83,628 shares of the credit-card processor’s stock valued at $12,552,000 after acquiring an additional 41,988 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Visa by 1.9% during the third quarter. Nomura Asset Management Co. Ltd. now owns 341,460 shares of the credit-card processor’s stock valued at $51,249,000 after acquiring an additional 6,416 shares during the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.

Shares of V traded up $0.42 during trading hours on Monday, reaching $140.80. The stock had a trading volume of 7,599,100 shares, compared to its average volume of 9,184,969. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Visa Inc has a 52 week low of $116.03 and a 52 week high of $151.56. The stock has a market cap of $281.80 billion, a P/E ratio of 30.54, a P/E/G ratio of 1.60 and a beta of 0.97.

Visa (NYSE:V) last released its earnings results on Wednesday, January 30th. The credit-card processor reported $1.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.05. The firm had revenue of $5.51 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Visa had a return on equity of 39.32% and a net margin of 50.61%. The company’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.08 EPS. On average, equities research analysts expect that Visa Inc will post 5.32 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Friday, February 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, February 14th. Visa’s payout ratio is 21.69%.

In other Visa news, EVP William M. Sheedy sold 13,864 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $144.97, for a total transaction of $2,009,864.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James H. Hoffmeister sold 2,252 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $144.56, for a total transaction of $325,549.12. The disclosure for this sale can be found here. Insiders sold a total of 19,759 shares of company stock valued at $2,820,187 in the last 90 days. 0.17% of the stock is owned by corporate insiders.

A number of equities research analysts have recently issued reports on V shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $166.00 target price on shares of Visa in a research note on Thursday, October 25th. Raymond James restated an “outperform” rating and set a $152.00 price objective (down previously from $167.00) on shares of Visa in a research note on Thursday, January 31st. Cantor Fitzgerald reiterated a “buy” rating and issued a $160.00 target price on shares of Visa in a research report on Thursday, January 31st. Barclays initiated coverage on Visa in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 target price for the company. Finally, SunTrust Banks reissued an “outperform” rating and issued a $250.00 price target on shares of Visa in a report on Friday, February 1st. One research analyst has rated the stock with a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $162.77.

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Visa Profile

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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Institutional Ownership by Quarter for Visa (NYSE:V)

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