Butensky & Cohen Financial Security Inc. trimmed its holdings in shares of Visa Inc (NYSE:V) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,911 shares of the credit-card processor’s stock after selling 1,711 shares during the quarter. Visa comprises 1.9% of Butensky & Cohen Financial Security Inc.’s portfolio, making the stock its 4th biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Visa were worth $2,388,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Fort L.P. acquired a new stake in shares of Visa in the second quarter valued at about $120,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Visa in the second quarter valued at about $132,000. Bridgeworth LLC acquired a new stake in shares of Visa in the second quarter valued at about $143,000. Ruggie Capital Group acquired a new stake in shares of Visa in the second quarter valued at about $164,000. Finally, O Dell Group LLC acquired a new stake in shares of Visa in the third quarter valued at about $200,000. 80.15% of the stock is currently owned by hedge funds and other institutional investors.
In other Visa news, EVP William M. Sheedy sold 3,643 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total transaction of $484,774.01. Following the completion of the transaction, the executive vice president now owns 241,983 shares in the company, valued at $32,200,677.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP William M. Sheedy sold 99,636 shares of Visa stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total transaction of $13,877,302.08. Following the completion of the transaction, the executive vice president now owns 296,925 shares of the company’s stock, valued at approximately $41,355,714. The disclosure for this sale can be found here. 0.14% of the stock is owned by company insiders.
Shares of V opened at $139.10 on Friday. The stock has a market cap of $274.13 billion, a price-to-earnings ratio of 30.17, a price-to-earnings-growth ratio of 1.48 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. Visa Inc has a 12 month low of $106.60 and a 12 month high of $151.56.
Visa (NYSE:V) last announced its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. As a group, sell-side analysts anticipate that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Friday, November 16th will be paid a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. Visa’s dividend payout ratio (DPR) is currently 21.69%.
Several equities research analysts recently weighed in on the stock. Bank of America increased their target price on shares of Visa from $155.00 to $163.00 and gave the company a “buy” rating in a research note on Monday, August 13th. Royal Bank of Canada increased their target price on shares of Visa to $170.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Robert W. Baird increased their target price on shares of Visa from $156.00 to $162.00 and gave the company an “outperform” rating in a research note on Friday, September 14th. Goldman Sachs Group cut shares of Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 target price for the company. in a research note on Monday, September 17th. Finally, Zacks Investment Research upgraded shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Tuesday, September 25th. Two equities research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $156.09.
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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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