Zevin Asset Management LLC decreased its position in shares of Visa Inc (NYSE:V) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,445 shares of the credit-card processor’s stock after selling 8,564 shares during the quarter. Visa comprises 5.7% of Zevin Asset Management LLC’s holdings, making the stock its 2nd largest holding. Zevin Asset Management LLC’s holdings in Visa were worth $17,794,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Visa by 1.1% during the second quarter. Vanguard Group Inc. now owns 146,976,797 shares of the credit-card processor’s stock valued at $25,507,824,000 after buying an additional 1,615,505 shares during the last quarter. BlackRock Inc. boosted its position in Visa by 2.3% in the second quarter. BlackRock Inc. now owns 123,791,138 shares of the credit-card processor’s stock worth $21,483,952,000 after purchasing an additional 2,773,330 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Visa by 0.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 78,658,915 shares of the credit-card processor’s stock worth $13,651,254,000 after purchasing an additional 379,577 shares during the last quarter. Northern Trust Corp boosted its position in Visa by 6.5% in the second quarter. Northern Trust Corp now owns 20,991,024 shares of the credit-card processor’s stock worth $3,642,991,000 after purchasing an additional 1,276,243 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Visa by 2.1% in the third quarter. Fisher Asset Management LLC now owns 20,200,734 shares of the credit-card processor’s stock worth $3,474,728,000 after purchasing an additional 419,991 shares during the last quarter. Hedge funds and other institutional investors own 80.98% of the company’s stock.
Shares of NYSE V traded up $0.54 during trading on Friday, reaching $178.97. 3,777,681 shares of the stock traded hands, compared to its average volume of 7,614,820. Visa Inc has a 52-week low of $121.60 and a 52-week high of $187.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.56 and a quick ratio of 1.69. The company has a 50-day moving average of $176.22 and a 200-day moving average of $173.43. The stock has a market capitalization of $349.90 billion, a P/E ratio of 32.90, a price-to-earnings-growth ratio of 1.83 and a beta of 0.94.
Visa (NYSE:V) last issued its quarterly earnings results on Thursday, October 24th. The credit-card processor reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.04. Visa had a return on equity of 42.57% and a net margin of 52.57%. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter in the prior year, the firm earned $1.21 EPS. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts expect that Visa Inc will post 6.21 earnings per share for the current fiscal year.
The company also recently declared a dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, November 14th. Visa’s dividend payout ratio is presently 18.38%.
In related news, insider Vasant M. Prabhu sold 25,051 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $181.14, for a total transaction of $4,537,738.14. Following the sale, the insider now directly owns 62,223 shares in the company, valued at approximately $11,271,074.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Alfred F. Kelly, Jr. sold 7,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were 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 in the company, valued at $9,857,744.34. The disclosure for this sale can be found here. Insiders have sold a total of 53,215 shares of company stock worth $9,564,487 in the last ninety days. Insiders own 0.17% of the company’s stock.
Several research analysts have weighed in on V shares. Jefferies Financial Group set a $210.00 price objective on Visa and gave the stock a “buy” rating in a research report on Friday, October 25th. UBS Group boosted their price objective on Visa from $183.00 to $187.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Raymond James boosted their price objective on Visa from $193.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Citigroup boosted their price objective on Visa from $185.00 to $206.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Credit Suisse Group boosted their price objective on Visa from $200.00 to $203.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Visa currently has an average rating of “Buy” and an average target price of $199.04.
Visa Company Profile
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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