Cpwm LLC reduced its holdings in Visa Inc (NYSE:V) by 78.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,492 shares of the credit-card processor’s stock after selling 20,175 shares during the period. Cpwm LLC’s holdings in Visa were worth $824,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in V. Smith Asset Management Group LP increased its holdings in shares of Visa by 15.0% in the second quarter. Smith Asset Management Group LP now owns 170,234 shares of the credit-card processor’s stock valued at $22,547,000 after purchasing an additional 22,190 shares during the last quarter. United Bank increased its stake in Visa by 8.5% during the second quarter. United Bank now owns 10,365 shares of the credit-card processor’s stock worth $1,373,000 after acquiring an additional 808 shares during the last quarter. Truepoint Inc. increased its stake in Visa by 1,047.5% during the second quarter. Truepoint Inc. now owns 3,500 shares of the credit-card processor’s stock worth $464,000 after acquiring an additional 3,195 shares during the last quarter. Sun Life Financial INC increased its stake in Visa by 581.9% during the second quarter. Sun Life Financial INC now owns 15,677 shares of the credit-card processor’s stock worth $2,079,000 after acquiring an additional 13,378 shares during the last quarter. Finally, Nicollet Investment Management Inc. increased its stake in Visa by 1.3% during the second quarter. Nicollet Investment Management Inc. now owns 43,035 shares of the credit-card processor’s stock worth $5,700,000 after acquiring an additional 548 shares during the last quarter. Institutional investors and hedge funds own 84.21% of the company’s stock.
V has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Visa in a research note on Monday, January 28th. They set a “buy” rating and a $135.99 target price for the company. JPMorgan Chase & Co. reissued a “buy” rating and set a $166.00 target price on shares of Visa in a research note on Thursday, October 25th. Barclays initiated coverage on Visa in a research note on Wednesday, November 14th. They set an “overweight” rating and a $170.00 target price for the company. Cantor Fitzgerald reissued a “buy” rating and set a $160.00 target price on shares of Visa in a research note on Thursday, January 31st. Finally, $1 reissued a “buy” rating on shares of Visa in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $162.77.
In related news, EVP William M. Sheedy sold 13,864 shares of Visa stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $144.97, for a total value of $2,009,864.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Ellen Richey sold 81,005 shares of Visa stock in a transaction on Thursday, February 7th. The shares were sold at an average price of $139.99, for a total value of $11,339,889.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,764 shares of company stock valued at $14,160,077. 0.17% of the stock is currently owned by company insiders.
Shares of NYSE V opened at $143.49 on Thursday. Visa Inc has a twelve month low of $116.03 and a twelve month high of $151.56. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $285.03 billion, a PE ratio of 31.13, a PEG 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, beating the Zacks’ consensus estimate of $1.25 by $0.05. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.41 billion. Visa had a return on equity of 39.32% and a net margin of 50.61%. Visa’s revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business posted $1.08 earnings per share. As a group, research analysts anticipate that Visa Inc will post 5.32 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Investors of record on Friday, February 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, February 14th. This represents a $1.00 dividend on an annualized basis and a yield of 0.70%. Visa’s dividend payout ratio (DPR) is presently 21.69%.
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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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