Short Interest in Visa Inc (V) Drops By 20.8%

Visa Inc (NYSE:V) was the target of a significant drop in short interest in December. As of December 29th, there was short interest totalling 26,750,520 shares, a drop of 20.8% from the December 15th total of 33,780,862 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average trading volume of 6,814,163 shares, the days-to-cover ratio is currently 3.9 days.

In related news, Director Robert W. Matschullat sold 6,220 shares of Visa stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the sale, the director now owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James H. Hoffmeister sold 2,146 shares of Visa stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $112.09, for a total value of $240,545.14. Following the sale, the senior vice president now directly owns 687 shares of the company’s stock, valued at approximately $77,005.83. The disclosure for this sale can be found here. In the last three months, insiders sold 58,068 shares of company stock valued at $6,597,262. Corporate insiders own 0.14% of the company’s stock.

Several institutional investors have recently bought and sold shares of V. iAB Financial Bank increased its position in shares of Visa by 2.6% during the second quarter. iAB Financial Bank now owns 56,963 shares of the credit-card processor’s stock worth $5,342,000 after purchasing an additional 1,423 shares in the last quarter. Heritage Trust Co increased its position in shares of Visa by 51.4% during the second quarter. Heritage Trust Co now owns 4,520 shares of the credit-card processor’s stock worth $424,000 after purchasing an additional 1,535 shares in the last quarter. Aviva PLC increased its position in shares of Visa by 0.8% during the second quarter. Aviva PLC now owns 1,411,845 shares of the credit-card processor’s stock worth $132,432,000 after purchasing an additional 11,662 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of Visa by 12.2% during the second quarter. Jacobi Capital Management LLC now owns 9,376 shares of the credit-card processor’s stock worth $892,000 after purchasing an additional 1,016 shares in the last quarter. Finally, Fundsmith LLP boosted its stake in Visa by 5.3% during the second quarter. Fundsmith LLP now owns 5,217,623 shares of the credit-card processor’s stock worth $489,309,000 after buying an additional 262,930 shares during the last quarter. Institutional investors and hedge funds own 81.55% of the company’s stock.

Shares of Visa (V) opened at $120.39 on Wednesday. The company has a market capitalization of $272,830.00, a P/E ratio of 43.00, a PEG ratio of 1.75 and a beta of 0.99. Visa has a 12-month low of $80.76 and a 12-month high of $121.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.90.

Visa (NYSE:V) last posted its quarterly earnings data on Wednesday, October 25th. The credit-card processor reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.05. The business had revenue of $4.86 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Visa had a return on equity of 31.80% and a net margin of 36.49%. The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. sell-side analysts anticipate that Visa will post 4.08 EPS for the current fiscal year.

A number of equities research analysts recently commented on the company. Wells Fargo & Co raised Visa from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $107.01 to $120.00 in a report on Tuesday, October 10th. Zacks Investment Research cut Visa from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Cantor Fitzgerald initiated coverage on Visa in a research report on Thursday, September 28th. They set an “overweight” rating and a $120.00 price target for the company. Vetr cut Visa from a “buy” rating to a “hold” rating and set a $121.05 price target for the company. in a research report on Monday, January 8th. Finally, Buckingham Research lifted their price target on Visa from $129.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. Four research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Visa has a consensus rating of “Buy” and a consensus target price of $122.03.

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About Visa

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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