Pettyjohn Wood & White Inc. decreased its position in Visa Inc (NYSE:V) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,977 shares of the credit-card processor’s stock after selling 2,170 shares during the period. Visa comprises approximately 2.4% of Pettyjohn Wood & White Inc.’s holdings, making the stock its 10th largest holding. Pettyjohn Wood & White Inc.’s holdings in Visa were worth $7,736,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Schaper Benz & Wise Investment Counsel Inc. WI raised its holdings in shares of Visa by 0.3% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 62,667 shares of the credit-card processor’s stock worth $10,779,000 after buying an additional 201 shares in the last quarter. SG Americas Securities LLC grew its position in Visa by 243.2% during the 3rd quarter. SG Americas Securities LLC now owns 997,375 shares of the credit-card processor’s stock worth $171,558,000 after acquiring an additional 706,744 shares during the last quarter. First Trust Advisors LP grew its position in Visa by 14.5% during the 3rd quarter. First Trust Advisors LP now owns 511,256 shares of the credit-card processor’s stock worth $87,941,000 after acquiring an additional 64,740 shares during the last quarter. Haverford Trust Co. grew its position in Visa by 2.5% during the 3rd quarter. Haverford Trust Co. now owns 12,717 shares of the credit-card processor’s stock worth $2,187,000 after acquiring an additional 308 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Visa by 21.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 157,373 shares of the credit-card processor’s stock worth $27,069,000 after acquiring an additional 27,854 shares during the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
Visa stock traded up $0.54 during mid-day trading on Friday, hitting $178.97. 3,894,140 shares of the company’s stock were exchanged, compared to its average volume of 7,614,820. The firm has a market capitalization of $349.90 billion, a P/E ratio of 32.90, a PEG ratio of 1.83 and a beta of 0.94. Visa Inc has a fifty-two week low of $121.60 and a fifty-two week high of $187.05. The company has a quick ratio of 1.69, a current ratio of 1.56 and a debt-to-equity ratio of 0.57. The company’s 50 day simple moving average is $176.18 and its 200-day simple moving average is $173.34.
Visa (NYSE:V) last issued its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.04. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $6.08 billion. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.21 EPS. Research analysts expect that Visa Inc will post 6.21 EPS for the current year.
The company also recently declared a dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 14th. Visa’s dividend payout ratio is 18.38%.
A number of equities research analysts recently commented on V shares. BMO Capital Markets increased their price target on Visa from $231.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Raymond James increased their price target on Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Piper Jaffray Companies set a $207.00 price target on Visa and gave the stock a “buy” rating in a research report on Wednesday, July 24th. ValuEngine lowered Visa from a “buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Guggenheim set a $194.00 price target on Visa and gave the stock a “buy” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $199.04.
In other Visa news, CEO Alfred F. Kelly, Jr. sold 7,000 shares of Visa stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total value of $1,244,530.00. Following the sale, the chief executive officer now owns 55,446 shares of the company’s stock, valued at approximately $9,857,744.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William M. Sheedy sold 21,164 shares of Visa stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total value of $3,782,218.44. Following the completion of the sale, the executive vice president now directly owns 227,126 shares in the company, valued at approximately $40,589,687.46. The disclosure for this sale can be found here. Insiders sold a total of 53,215 shares of company stock worth $9,564,487 in the last three months. Company insiders own 0.17% of the company’s stock.
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.
Further Reading: Gross Domestic Product (GDP)
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