Golub Group LLC reduced its position in Visa Inc (NYSE:V) by 3.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 284,531 shares of the credit-card processor’s stock after selling 10,632 shares during the period. Visa comprises 3.9% of Golub Group LLC’s holdings, making the stock its 5th largest position. Golub Group LLC’s holdings in Visa were worth $48,942,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Krane Funds Advisors LLC acquired a new stake in Visa during the second quarter worth approximately $26,000. Lowe Wealth Advisors LLC lifted its position in Visa by 114.7% during the second quarter. Lowe Wealth Advisors LLC now owns 161 shares of the credit-card processor’s stock worth $28,000 after acquiring an additional 86 shares during the last quarter. Personal Wealth Partners acquired a new stake in Visa during the second quarter worth approximately $30,000. Mcmillion Capital Management Inc. bought a new position in shares of Visa during the second quarter worth approximately $38,000. Finally, Hexavest Inc. bought a new position in shares of Visa during the second quarter worth approximately $40,000. Institutional investors and hedge funds own 80.98% of the company’s stock.
Several brokerages have recently commented on V. SunTrust Banks raised their target price on shares of Visa to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Raymond James raised their target price on shares of Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. KeyCorp raised their target price on shares of Visa from $190.00 to $195.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Wedbush set a $187.00 target price on shares of Visa and gave the stock a “buy” rating in a report on Tuesday, September 24th. Finally, Nomura raised their target price on shares of Visa from $178.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Visa has a consensus rating of “Buy” and an average price target of $199.04.
In other Visa news, EVP William M. Sheedy sold 21,164 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $178.71, for a total transaction of $3,782,218.44. Following the sale, the executive vice president now owns 227,126 shares of the company’s stock, valued at $40,589,687.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $177.79, for a total transaction of $1,244,530.00. Following the sale, the chief executive officer now directly owns 55,446 shares in the company, valued at approximately $9,857,744.34. The disclosure for this sale can be found here. Insiders sold 53,215 shares of company stock worth $9,564,487 over the last three months. 0.17% of the stock is currently owned by insiders.
NYSE:V traded up $0.54 during mid-day trading on Friday, reaching $178.97. The stock had a trading volume of 3,777,681 shares, compared to its average volume of 7,614,820. The stock has a 50-day simple moving average of $176.22 and a two-hundred day simple moving average of $173.43. The stock has a market capitalization of $349.90 billion, a PE ratio of 32.90, a P/E/G ratio of 1.83 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.69. Visa Inc has a 12 month low of $121.60 and a 12 month high of $187.05.
Visa (NYSE:V) last announced its quarterly earnings data on Thursday, October 24th. The credit-card processor reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.04. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. Visa had a net margin of 52.57% and a return on equity of 42.57%. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts expect that Visa Inc will post 6.21 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Tuesday, December 3rd. Investors 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 (DPR) is 18.38%.
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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