Vontobel Asset Management Inc. trimmed its position in shares of Visa Inc (NYSE:V) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,907,403 shares of the credit-card processor’s stock after selling 698,287 shares during the quarter. Visa accounts for approximately 4.1% of Vontobel Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Vontobel Asset Management Inc. owned about 0.24% of Visa worth $571,610,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Welch Investments LLC purchased a new stake in Visa during the third quarter worth about $101,000. Cordasco Financial Network purchased a new stake in Visa during the third quarter worth about $105,000. Motco boosted its holdings in Visa by 25.1% during the second quarter. Motco now owns 1,176 shares of the credit-card processor’s stock worth $110,000 after buying an additional 236 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in Visa during the third quarter worth about $110,000. Finally, BDO Wealth Advisors LLC purchased a new stake in Visa during the second quarter worth about $115,000. Institutional investors and hedge funds own 81.54% of the company’s stock.
In related news, Director Robert W. Matschullat sold 6,220 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $113.76, for a total transaction of $707,587.20. Following the completion of the transaction, the director now owns 57,368 shares of the company’s stock, valued at $6,526,183.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tullier Kelly Mahon sold 49,702 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $113.66, for a total transaction of $5,649,129.32. Following the transaction, the executive vice president now directly owns 76,202 shares of the company’s stock, valued at approximately $8,661,119.32. The disclosure for this sale can be found here. Insiders have sold 57,634 shares of company stock valued at $6,562,157 in the last ninety days. 0.14% of the stock is currently owned by company insiders.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, February 1st. The credit-card processor reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.10. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.82 billion. Visa had a net margin of 38.12% and a return on equity of 32.97%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 earnings per share. research analysts forecast that Visa Inc will post 4.36 EPS for the current fiscal year.
Visa declared that its Board of Directors has approved a stock repurchase program on Thursday, February 1st that authorizes the company to buyback $7.50 billion in shares. This buyback authorization authorizes the credit-card processor to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Tuesday, March 6th. Investors of record on Friday, February 16th were given a dividend of $0.21 per share. This is a positive change from Visa’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, February 15th. This represents a $0.84 annualized dividend and a yield of 0.67%. Visa’s dividend payout ratio is 32.94%.
V has been the topic of a number of research analyst reports. Vetr raised shares of Visa from a “hold” rating to a “buy” rating and set a $115.24 price objective on the stock in a report on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $141.00 price target on shares of Visa in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Visa from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Susquehanna Bancshares upped their price target on shares of Visa from $126.00 to $148.00 in a report on Thursday, December 28th. Finally, Barclays reaffirmed a “buy” rating and issued a $145.00 price target on shares of Visa in a report on Friday, January 5th. Two analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $134.14.
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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