Hayek Kallen Investment Management Decreases Stock Position in Visa Inc (NYSE:V)

Hayek Kallen Investment Management reduced its position in Visa Inc (NYSE:V) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,556 shares of the credit-card processor’s stock after selling 439 shares during the quarter. Visa makes up about 2.4% of Hayek Kallen Investment Management’s holdings, making the stock its 14th largest position. Hayek Kallen Investment Management’s holdings in Visa were worth $3,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladstone Institutional Advisory LLC lifted its stake in shares of Visa by 16.4% in the 2nd quarter. Gladstone Institutional Advisory LLC now owns 5,560 shares of the credit-card processor’s stock valued at $965,000 after acquiring an additional 782 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Visa by 4.2% in the 2nd quarter. Asset Dedication LLC now owns 16,109 shares of the credit-card processor’s stock worth $2,799,000 after buying an additional 647 shares during the last quarter. Alera Investment Advisors LLC grew its stake in shares of Visa by 5.7% in the 2nd quarter. Alera Investment Advisors LLC now owns 1,599 shares of the credit-card processor’s stock worth $278,000 after buying an additional 86 shares during the last quarter. Castle Rock Wealth Management LLC grew its stake in shares of Visa by 45.4% in the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,411 shares of the credit-card processor’s stock worth $2,154,000 after buying an additional 3,876 shares during the last quarter. Finally, Doliver Advisors LP grew its stake in shares of Visa by 16.8% in the 2nd quarter. Doliver Advisors LP now owns 14,848 shares of the credit-card processor’s stock worth $2,577,000 after buying an additional 2,134 shares during the last quarter. Institutional investors own 80.98% of the company’s stock.

V has been the topic of several analyst reports. BMO Capital Markets upped their price objective on Visa from $231.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. UBS Group increased their price objective on shares of Visa from $183.00 to $187.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on shares of Visa from $166.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. SunTrust Banks increased their price objective on shares of Visa to $205.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, ValuEngine downgraded shares of Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $199.04.

Shares of V stock traded up $0.54 during mid-day trading on Friday, hitting $178.97. The stock had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $187.05. The firm has a market cap of $349.90 billion, a PE ratio of 32.90, a PEG ratio of 1.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.69. The company’s 50-day simple moving average is $176.22 and its 200-day simple moving average is $173.43.

Visa (NYSE:V) last announced its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.04. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter last year, the business earned $1.21 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, analysts expect that Visa Inc will post 6.21 EPS for the current year.

The business also recently announced a dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, November 14th. Visa’s payout ratio is 18.38%.

In other Visa news, EVP William M. Sheedy sold 21,164 shares of Visa stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the transaction, the executive vice president now directly owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the transaction, the chief executive officer now directly owns 55,446 shares in the company, valued at $9,857,744.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,215 shares of company stock valued at $9,564,487. 0.17% of the stock is owned by insiders.

Visa Company 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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