Webster Bank N. A. lowered its holdings in shares of Visa Inc (NYSE:V) by 3.1% in the fourth quarter, HoldingsChannel reports. The firm owned 51,895 shares of the credit-card processor’s stock after selling 1,672 shares during the period. Visa makes up 1.2% of Webster Bank N. A.’s portfolio, making the stock its 17th largest position. Webster Bank N. A.’s holdings in Visa were worth $9,751,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Visa by 1.1% in the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after buying an additional 1,615,505 shares during the period. BlackRock Inc. raised its position in Visa by 2.3% during the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock valued at $21,483,952,000 after purchasing an additional 2,773,330 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Visa by 0.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 78,658,915 shares of the credit-card processor’s stock valued at $13,651,254,000 after purchasing an additional 379,577 shares in the last quarter. Fisher Asset Management LLC raised its position in Visa by 2.1% during the third quarter. Fisher Asset Management LLC now owns 20,200,734 shares of the credit-card processor’s stock valued at $3,474,728,000 after purchasing an additional 419,991 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Visa by 3,715.7% during the second quarter. Nuveen Asset Management LLC now owns 16,291,965 shares of the credit-card processor’s stock valued at $2,827,471,000 after purchasing an additional 15,864,991 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
Shares of NYSE:V traded up $0.50 during trading on Tuesday, hitting $195.83. 2,194,563 shares of the company were exchanged, compared to its average volume of 6,039,877. The business’s 50 day moving average is $186.67 and its 200-day moving average is $180.02. The company has a market capitalization of $381.60 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 2.01 and a beta of 0.93. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. Visa Inc has a 1-year low of $133.30 and a 1-year high of $195.60.
Visa (NYSE:V) last announced its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period in the prior year, the business earned $1.21 earnings per share. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Visa Inc will post 6.2 earnings per share for the current year.
In related news, EVP William M. Sheedy sold 3,110 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $182.52, for a total value of $567,637.20. Following the sale, the executive vice president now owns 227,740 shares of the company’s stock, valued at $41,567,104.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the completion of the sale, the chief executive officer now directly owns 55,446 shares in the company, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. In the last three months, insiders sold 58,480 shares of company stock worth $10,606,182. 0.17% of the stock is currently owned by insiders.
Several research analysts have commented on V shares. Moffett Nathanson boosted their price objective on shares of Visa from to in a research report on Tuesday, January 7th. BMO Capital Markets boosted their price objective on shares of Visa from $231.00 to $239.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Compass Point started coverage on shares of Visa in a research report on Thursday, December 5th. They set a “buy” rating for the company. Morgan Stanley boosted their price objective on shares of Visa from $207.00 to $220.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Finally, Guggenheim set a $194.00 price objective on shares of Visa and gave the company a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $203.79.
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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