Oakbrook Investments LLC decreased its position in shares of Visa Inc (NYSE:V) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 274,098 shares of the credit-card processor’s stock after selling 93,259 shares during the quarter. Visa comprises approximately 2.3% of Oakbrook Investments LLC’s investment portfolio, making the stock its 4th biggest holding. Oakbrook Investments LLC’s holdings in Visa were worth $41,139,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. bought a new position in Visa during the 2nd quarter worth approximately $757,597,000. Baird Financial Group Inc. lifted its stake in Visa by 2.2% in the second quarter. Baird Financial Group Inc. now owns 944,191 shares of the credit-card processor’s stock valued at $125,058,000 after buying an additional 20,084 shares in the last quarter. Lee Financial Group Hawaii Inc. lifted its stake in Visa by 1.6% in the second quarter. Lee Financial Group Hawaii Inc. now owns 24,147 shares of the credit-card processor’s stock valued at $3,198,000 after buying an additional 388 shares in the last quarter. Credit Agricole S A lifted its stake in Visa by 0.8% in the second quarter. Credit Agricole S A now owns 169,611 shares of the credit-card processor’s stock valued at $22,465,000 after buying an additional 1,312 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC lifted its stake in Visa by 2.1% in the second quarter. Wealthstreet Investment Advisors LLC now owns 145,294 shares of the credit-card processor’s stock valued at $19,244,000 after buying an additional 2,930 shares in the last quarter. 80.63% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. Credit Suisse Group lifted their price target on shares of Visa from $150.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, October 8th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $166.00 price target on shares of Visa in a research note on Thursday, October 25th. Robert W. Baird lifted their price target 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. Bank of America lifted their price target 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. Finally, BMO Capital Markets assumed coverage on shares of Visa in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $187.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and thirty-two have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $156.09.
In related news, SVP James H. Hoffmeister sold 2,252 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $144.56, for a total transaction of $325,549.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP William M. Sheedy sold 3,643 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total transaction of $484,774.01. Following the transaction, the executive vice president now owns 241,983 shares in the company, valued at $32,200,677.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,395 shares of company stock worth $16,697,489. 0.14% of the stock is owned by corporate insiders.
Shares of V stock opened at $137.11 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.61 and a current ratio of 1.61. The firm has a market capitalization of $279.64 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.11. Visa Inc has a 12 month low of $111.02 and a 12 month high of $151.56.
Visa (NYSE:V) last issued its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.44 billion. Visa had a net margin of 49.98% and a return on equity of 38.00%. Analysts anticipate that Visa Inc will post 5.33 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Friday, November 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. This is an increase from Visa’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, November 15th. Visa’s payout ratio is presently 21.69%.
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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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