Strategic Advisors LLC lessened its stake in Visa Inc (NYSE:V) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 43,724 shares of the credit-card processor’s stock after selling 1,253 shares during the quarter. Visa accounts for about 2.4% of Strategic Advisors LLC’s holdings, making the stock its 9th biggest position. Strategic Advisors LLC’s holdings in Visa were worth $6,563,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Fort L.P. bought a new stake in Visa in the second quarter worth approximately $120,000. Cascade Investment Advisors Inc. bought a new stake in Visa in the second quarter worth approximately $132,000. Bridgeworth LLC bought a new stake in Visa in the second quarter worth approximately $143,000. Ruggie Capital Group bought a new stake in shares of Visa during the 2nd quarter worth $164,000. Finally, O Dell Group LLC bought a new stake in shares of Visa during the 3rd quarter worth $200,000. Hedge funds and other institutional investors own 80.63% of the company’s stock.
In other news, EVP William M. Sheedy sold 3,643 shares of the stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $133.07, for a total value of $484,774.01. Following the completion of the transaction, the executive vice president now owns 241,983 shares in the company, valued at approximately $32,200,677.81. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP William M. Sheedy sold 13,864 shares of the stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $144.97, for a total transaction of $2,009,864.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,395 shares of company stock valued at $16,697,489. Corporate insiders own 0.14% of the company’s stock.
V has been the subject of several recent analyst reports. Wells Fargo & Co upped their price objective on shares of Visa from $161.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Royal Bank of Canada upped their price objective on shares of Visa to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, September 5th. Zacks Investment Research raised shares of Visa from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Tuesday, September 25th. Credit Suisse Group upped their price objective on shares of Visa from $150.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, October 8th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $166.00 price objective on shares of Visa in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $156.09.
NYSE:V opened at $137.11 on Friday. The firm has a market cap of $284.50 billion, a P/E ratio of 29.74, a P/E/G ratio of 1.53 and a beta of 1.11. Visa Inc has a one year low of $111.02 and a one year high of $151.56. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.58.
Visa (NYSE:V) last released its earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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, analysts forecast that Visa Inc will post 5.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 4th. Investors of record on Friday, November 16th were paid a dividend of $0.25 per share. This is a boost from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, November 15th. Visa’s dividend 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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